National Retail Federation predicts increase in sales

The National Retail Federation is predicting a 4.5 percent growth in sales this year.

Earlier in the year, the trade organization predicted retail sales would grow in the range of 3.8 to 4.4 percent.

“We don’t want to see these economic gains derailed by protectionist trade policy,” said NRF President and CEO Matthew Shay. “With retailers ramping up imports and stocking their warehouses before most of the proposed tariffs will take effect, an immediate impact on prices on consumer goods is unlikely, but that won’t last for long. And just the mere talk of tariffs negatively impacts consumer and business confidence, leading to a decline in spending.

"It’s time to replace tariffs and talk of trade wars with diplomacy and policies that strengthen recent gains, not kill them.”

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