Join        Login             Stock Quote

Retail Sales Growth For 2013 Projected At 3.4 Pct: NRF

 January 28, 2013 10:49 AM

(By Balachander) The National Retail Federation (NRF) projects an increase of 3.4 percent in retail sales for 2013, with online sales expected to grow as much as 12 percent.

The world's largest retail trade association said the subdued forecast comes on the heels of a holiday season that went head-to-head with Washington's political wrangling over fiscal concerns, shifting consumers' spending plans downward. 

NRF said retail sales expectations for 2013 were slightly less than the preliminary 4.2 percent growth seen in 2012.

Holiday retail sales rose 3.0 percent in 2012, yet came in below forecast as economic uncertainties had a visible impact on consumer spending, NRF had said earlier this month.

[Related -Buffett's Market Indicator Flashes Red, Prepare To Sell]

Shop.org, NRF's digital division, expects online sales to increase between 9.0 percent and 12.0 percent this year. Online sales during the months of November and December in 2012 rose 11.1 percent.

"What we witnessed during the holiday season is an indication of what we are likely to see in 2013," NRF CEO Matthew Shay said. "Consumers read troubling economic headlines every day and look at their bottom lines at the end of the month, and they don't like what they see."

Shay said pushing fiscal policy decisions down the road will lead to even greater uncertainty, and will continue to impact consumers' desire and ability to spend on discretionary items.

The administration and congress need to pursue and enact policies that lead to growth and economic expansion, or it could be another challenging year for retailers and consumers alike, Shay added.

[Related -PBoC joins other major central banks with unconventional monetary policy action]

"Overall we foresee some improvements in the second half of the year should the outlook for job creation and income growth improve," said NRF Chief Economist Jack Kleinhenz.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageBuffett's Market Indicator Flashes Red, Prepare To Sell

With each passing month, it's becoming evident that the current bull market has slowed from a gallop to a read on...

article imagePBoC joins other major central banks with unconventional monetary policy action

Softer than expected economic growth in China (see discussion) has finally spurred the PBoC into action. read on...

article imageA Buyback Boost?

Are stock buybacks the only thing keeping this bull market read on...

article imageGold Slides On Perfect Storm For Dollar

For all the anticipation surrounding the delivery of the Fed’s statement in the run-up to the September read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

A Buyback Boost?
More Articles on: Retail/Wholesale

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.