Retail Sales Growth in 2008 Expected to be Slowest in 6 Years

[Kristijntje]

Retail sales are expected to rise 3.5% in 2008, the lowest increase in six years, according to Rosalind Wells, chief economist for the National Retail Federation. During her remarks at the trade organization’s “Big Show” here on Monday, Wells avoided calling it a recession, but termed the retail sales forecast as a “slowdown.”

Wells pointed to a sluggish housing market, a slow job market, and high energy and food costs as the primary factors affecting the modest forecast, which includes a 3.2% rise in first-half sales and 3.8% in the second half. “All these pressures give consumers anxiety,” she said. “Consumers are becoming more cautious about their spending...

full article: http://multichannelmerchant.com/news/sal...down_0114/