Retail Sales on the Rise

Ann-Marie Vazzano

Good news for retailers: Retail sales are projected to increase 4.1% in 2014, according to the National Retail Federation’s 2014 economic forecast. That’s up from the 3.7% increase in 2013. The forecast for 2014 online sales is even better, where an increase of 9% to 12% is expected.

A number of factors contributed to NRF’s economic forecast, including continued recovery in the labor market, averaging approximately 185,000 new jobs per month. The unemployment rate is expected to drop to 6.5% or lower by the end of the year. In addition, forecasters expect the housing sector to continue to improve this year, spurring household and business confidence and spending. GP