The economy delivered some bad news but mostly surprisingly good news for retailers last year. Consumer confidence was shaken by high inflation and the interest rate hikes intended to combat it, but consumer spending — and retail sales — remained remarkably robust. And as 2023 was drawing to a close, inflation was showing signs of
WASHINGTON – After a year of challenges, the economy has proven to be healthy even as it continues to slow, National Retail Federation Chief Economist Jack Kleinhenz said today. “The U.S. economy is on track to end 2023 with vigorous growth for the year,” Kleinhenz said. “A strong labor market, rising wages and access to
WASHINGTON — U.S. economic growth has slowed, but it still isn’t clear if the nation is in a recession, National Retail Federation chief economist Jack Kleinhenz said earlier this month. “As we come to the end of the summer, economic indicators are signaling an unsteady U.S. expansion in the face of several headwinds,” Kleinhenz explained,
WASHINGTON — Consumer prices shot higher in March, driven by a strong economic recovery from pandemic-related restrictions, the Labor Department reported today. The consumer price index – which includes the often volatile categories of energy and food — rose 0.6% from the previous month but 2.6% from the comparable period a year ago. It was
WASHINGTON – Consumer spending in September accelerated at a faster pace than expected, with a strong rebound in apparel leading “a continuing V-shaped recovery” from the coronavirus pandemic, according to the National Retail Federation. The 1.9% increase in retail sales was more than twice the gain economists were expecting and represents the fourth consecutive monthly
The overall U.S. economy is still strong. But many Americans, including people who have jobs, are still struggling financially. As a recent report from the Hartman Group points out, the fact that large numbers of American consumers are living paycheck to paycheck inevitably affects how and where they shop. The report — “The Business of