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Retail Sales to Now Exceed $4 44 Trillion in 2021: NRF
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Alabama sales tax collection up in 2021 | rocketcitynow com
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Jun 9, 2021
Shoppers in line at PacSun in April. SES file photo.
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The National Retail Federation raised its guidance for annual retail sales today – by a lot.
The trade group now expects retail sales to grow 10.5% to 13.5% for the year. That compares to the 6.5% increase it predicted in February.
The NRF also expects GDP to grow 7% for the year, up from the 4.4% to 5% growth previously forecast. That would be the fastest growth since 1984.
“We are seeing clear signs of a strong and resilient economy,” NRF Chief Economist Jack Kleinhenz said in a statement. “Incoming data suggests that U.S. economic activity continues to expand rapidly, and we have seen impressive growth. Most indicators point toward an energetic expansion over the upcoming months and through the remainder of the year.”