NRF: Sales look a little less rosy

Washington, D.C. - The National Retail Federation (NRF) is now a little less rosy in its sales expectations for 2015. The NRF has lowered its full-year retail sales forecast because of unexpected slow growth recorded during the first half of the year, similar to the industry’s experience in 2014.



However, NRF still expects sales will steadily increase through the remainder of the year. NRF forecasted in February that retail sales would grow 4.1% in 2015 from 2014, but today’s revision lowers the forecast to 3.5%.



NRF calculated that sales grew 2.9% during the first half of 2015 and are expected to grow at a more positive pace of 3.7% during the next five months. The estimates include general retail sales and non-store sales, and exclude automobiles, gas stations and restaurants. Revised non-store sales are now expected to grow between 6% and 8%, still within the 7% to 10% range originally forecast.



“For years consumer spending has been hampered by lackluster growth in our economy,” said NRF president and CEO Matthew Shay. “Much of that blame can be shifted to Washington, where too much time has been spent crafting rules and regulations that almost guarantee negative consequences for consumers and American businesses alike. Until the government and our elected leaders get serious about enacting policies that lift consumer confidence, create economic growth and spur investment, we will continue this trend of solid, but not exceptional, performance in the economy.”