National Retail Federation Boosts Its Annual Forecast, Expec

National Retail Federation Boosts Its Annual Forecast, Expects 'Fastest Growth That We've Seen in This Country Since 1984' – NBC Connecticut


That compares with $4.02 trillion in total retail sales in 2020 and $3.76 trillion in 2019.
The industry group had forecast in February that retail sales would rise between 6.5% and 8.2%, amounting to more than $4.33 trillion in sales for the year.
NRF also increased its projection for full-year GDP growth to about 7%, compared with the 4.4% and 5% it expected earlier this year. It said it anticipates pre-pandemic levels of output to return in this fiscal quarter.
Kleinhenz said government stimulus has flowed through the economy and into consumers' wallets. That's fueled shoppers' appetite for spending and a quicker-than-expected recovery, he said.
"We are seeing clear signs of a strong and resilient economy," he said, adding that households "are ready to resume some normalcy of living, working and playing."

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