US: Set for 2014 retail sales growth
Retail sales are forecast to grow 4.1% this year
US retail sales are poised to increase 4.1% this year, helped by higher economic growth, as well as an improved labour market and housing sector.
The optimistic forecast from the National Retail Federation (NRF) is up from the preliminary 3.7% growth seen in 2013. The trade body also expects online sales to rise 9-12%.
"Measured improvements in economic growth, combined with positive expectations for continued consumer spending, will put the retail industry in a relatively good place in 2014," said NRF president and CEO Matthew Shay.
But, Shay warned, headwinds such as the looming debt ceiling debates, increased health care costs, and regulatory concerns still pose risks for consumers and retailers.
"The economy remains susceptible to buffets as we are already witnessing in the New Year, thanks to harsh winter weather, domestic and global financial issues," said NRF chief economist Jack Kleinhenz.
"While we are careful not to ignore the challenges, we are optimistic and hopeful that future disruptions will be limited, allowing employment and business investment to grow all the while giving retailers and their customers the confidence in the economy they need."
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- China cotton: implications and opportunities
- South Africa to grow grass for recyclable textiles
- 30% of Adidas cotton from sustainable sources
- US West Coast port contract reached
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide