U.S. Retail Sales Forecast Rises Sharply as Covid-19 Restrictions Ease

U.S. lockdowns have lifted and shopping is back. The National Retail Federation said Wednesday it expects retail sales to jump between 10.5% and 13.5% to more than $4.44 trillion this year compared with last. That is nearly double the forecast the trade group gave in February, when it predicted between 6.5% to 8.2% growth in U.S. retail spending. “The economy and consumer spending have proven to be much more resilient than initially forecasted,” said NRF chief executive Matthew Shay. They have been boosted by vaccine distribution and the most recent stimulus package. Read more at The Wall Street Journal.

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