NRF Forecasts 4.1% Increase in Retail Sales for 2014

The National Retail Federation (NRF) released its 2014 economic forecast yesterday, projecting retail industry sales (which exclude automobiles, gas stations and restaurants) will increase 4.1 percent, up from the preliminary 3.7 percent growth seen in 2013. NRF also announced it expects online sales in 2014 to grow between 9 percent and 12 percent. "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.