NRF Forecasts 3.4% Increase in Retail Sales for 2013

The National Retail Federation (NRF) released its 2013 economic forecast today, projecting retail industry sales (which exclude automobiles, gas stations and restaurants) will increase 3.4 percent, slightly less than the preliminary 4.2 percent growth seen in 2012. The subdued forecast comes on the heels of a holiday season that went head-to-head with Washington's political wrangling over fiscal concerns, shifting consumers’ spending plans downward. In the end, holiday sales in 2012 grew 3.0 percent.