IE Business Daily Business news for the Inland Empire.
National retail sales are expected to rise 4.1 percent this year, according to the National Retail Federation.
That would be the largest increase since 2011, when sales increased 5.1 percent year-over-year, according to the federation’s annual national retail forecast, which was released Thursday.
Sales were up 3.5 percent last year.
“Retailers are optimistic about the potential that exists for healthy growth in retail sales and consumer engagement in 2015,” federation president and chief executive officer Matthew Shay said in a statement. “While our outlook for the year ahead is positive … we need a commitment from our leaders in Washington to pass legislation that will encourage investment, create jobs and set us on the path towards sustained, long-term economic growth.”
The forecast also predicts that the economy will add between 220,000 and 230,000 jobs a month this year, unemployment should drop below five percent by the end of the year and net worth should be up to record levels, making consumers more confident about spending.
