According to the National Retail Federation (NRF), the retail industry sales growth will rise 3.4% to $2.53 trillion which is lower than 2011 figure of 4.7%.
“Over the last 18 months, retailers have been on the forefront of the economic recovery – creating jobs, encouraging consumer spending, and investing in America,” said NRF President and CEO Matthew Shay. “Our 2012 forecast is a vote of confidence in the retail industry and our ability to succeed even in a challenging economy. Retailers have played a key role in driving growth, but to continue this momentum we need Washington to act on proposals that will spur job creation and unleash the power of the private sector.”