NRF Expects Sales to Rise 4%

The National Retail Federation estimates that retail sales will grow by 4 percent this year. The group projects that sales will reach $2.47 trillion in 2011, up from last year’s $2.37. The increase would be higher than the past decade’s average annual growth rate of 3.1 percent. However, slow job growth and rising prices are still causing consumers to spend deliberately. Jack Kleinhenz, NRF’s chief economist, stated: “Consumers will continue to be thoughtful about what they’re spending, but they’re certainly feeling better.”