Fitch: Tepid retail recovery in 2010

New York City A report released late Monday by Fitch Ratings found that U.S. retailers will get a reprieve in 2010, but are not likely to see a robust recovery next year.

According to a report by Reuters, a slow economic recovery would prevent any meaningful turnaround in retail sales in the near future.

Fitch is due to release its retail report on Wednesday.

"We need to see macroeconomic factors such as unemployment and consumer debt or anything that could impair consumption, improve," Monica Aggarwal, a Fitch director, told Reuters ahead of the release.

Fitch expects unemployment to peak at 10.5% sometime in 2010.