NRF: U.S. retail sales expected to exceed $3.8 trillion in 2019

The National Retail Federation (NRF) predicts that retail sales will grow 3.8-4.4% in 2019, or more than $3.8 trillion.

“We believe the fundamental condition of the U.S. economy is sound. More people are working, they’re earning more money, taxes are lower, and consumer confidence remains high,” said NRF President and CEO Matthew Shay. “The most important priority is to ensure our economy continues to grow. Now is the time to end man-made problems like the trade war and the government shutdown and focus on prosperity rather than politics.”

Preliminary estimates that retail sales grew 4.6% in 2018 from 2017 to $3.68 trillion, exceeding the 4.5% growth rate predicted by NRF. This figure includes online and other non-brick-and-mortar store sales, which grew 10.4% to $682.8 billion. This is in line with NRF's forecast (10%-12%). NRF estimates that online sales growth will remain at 10%-12% in 2019. These figures do not include car dealerships, gas stations and restaurants.

NRF predicts that retail sales will grow by 3.8-4.4% in 2019, with a total of $3.82-3.84 trillion. Online sales will grow by 10-12%, with a total of $751.1-764.8 billion.

The NRF also predicts that jobs will be added an average of 170,000 per month in 2019, down from 220,000 in 2018, while the current 4% unemployment rate will fall to 3.5% by the end of the year. Gross domestic product (GDP) is likely to grow by about 2.5% compared to 2018.

199IT.com Originally compiled from: NRF. Please do not reprint without authorization