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National Retail Federation chief economist Jack Kleinhenz

NRF economist sees more growth ahead

NRF economist sees more growth ahead

WASHINGTON – National Retail Federation chief economist Jack Kleinhenz said Tuesday that the Federal Reserve’s efforts to curb inflation should not derail the U.S. economy’s continued growth. “There is plenty of room to raise rates without threatening the economy,” he said. Kleinhenz’s remarks came in the February issue of NRF’s Monthly Economic Review, which said

NRF economist expects another year of uncertainty

NRF economist expects another year of uncertainty

WASHINGTON – The COVID-19 omicron variant will bring uncertainty to the economy in 2022 and could contribute to inflation, but is unlikely to cause widespread shutdowns or slowdowns, National Retail Federation chief economist Jack Kleinhenz said on Wednesday. “Even with the experience of the past two years, there is no model that can predict how

NRF: Holiday spending could top forecast

NRF: Holiday spending could top forecast

WASHINGTON – With the holiday season “off to a good start,” the National Retail Federation’s chief economist now expects consumer spending to exceed his October forecast, overcoming supply chain disruptions, inflation and challenges like the new COVID-19 omicron variant. “Now that we’re in December, the holiday shopping season is nearing the finish line,” said Jack

Early holiday shopping boosts October retail sales

Early holiday shopping boosts October retail sales

WASHINGTON – Early holiday shopping helped boost retail sales in October, the National Retail Federation said on Tuesday. “Retail sales data for October reflects the enduring strength of consumers’ finances and willingness to spend as the holiday season gets underway,” NRF President and CEO Matthew Shay said. “The robust balance sheets of American households are being

Retail sales rebound in June

Retail sales rebound in June

WASHINGTON — Retail sales grew in June after dipping month-to-month in May, in a sign that the industry is benefiting from an improving economy. Retail sales rose 0.6% in June, according to the U.S. Commerce Department, which also revised data for May to show sales falling 1.7% instead of declining 1.3% as previously reported. Many

NRF economist: new retail scorecard needed

NRF economist: new retail scorecard needed

WASHINGTON — Traditional statistical measurements are not providing an accurate account of the retail industry’s contribution to the economy, National Retail Federation chief economist Jack Kleinhenz contended in the June issue of NRF’s Monthly Economic Review. “In recent years, critics have claimed the retail industry is facing an existential crisis, that retail is not growing

NRF: Economy could see fastest growth since 1980s

NRF: Economy could see fastest growth since 1980s

WASHINGTON — The  U.S. economy could be headed for its fastest growth in more than three decades, National Retail Federation chief economist Jack Kleinhenz said on Monday. “While there is a great deal of uncertainty about how fast and far this economy will grow in 2021, surveys show an increase in individuals being vaccinated, more

NRF: Recovery is ‘being tested daily’

NRF: Recovery is ‘being tested daily’

WASHINGTON – Despite signs that reopening businesses have begun to lift the economy, National Retail Federation chief economist Jack Kleinhenz said Monday that conflicting data makes it difficult to say how steady the comeback will be. “Optimism about the economy and retail spending is being tested daily with the spread of the coronavirus,” Kleinhenz said.

Retail sales plummet amid pandemic

Retail sales plummet amid pandemic

WASHINGTON — Total retail sales fell dramatically in March as the coronavirus pandemic forced restaurants, bars and many stores to temporarily close across the nation. But sales soared at grocery stores and were up at other retailers deemed “essential” as well, offsetting some of the decline. “COVID-19 has hit the retail industry unevenly,” NRF Chief

NRF chief economist: stopping pandemic is first step

NRF chief economist: stopping pandemic is first step

WASHINGTON – National Retail Federation chief economist Jack Kleinhenz says the coronavirus pandemic “has triggered shocks,” but he argues that the underlying economy is sound. “How quickly the country gets a handle on containing the virus will determine the degree of the impact on the economy and how soon businesses can reopen,” Kleinhenz wrote in

Retail employment falls in March

Retail employment falls in March

WASHINGTON — The U.S. economy added 196,000 jobs in March, but retail industry employment for the month fell by 11,700 jobs seasonally adjusted from February, according to the Labor Department. Retail jobs were also down 47,400 jobs unadjusted year-over-year. “March’s strong rebound in overall hiring throughout the economy is good news after the seesaw employment