1/29/2013

A higher payroll tax that is taking a bigger bite of consumers' paychecks, as well as ongoing fiscal confusion in Washington, are expected to lead to the smallest increase in U.S. retail sales since 2010. Sales are expected to grow 3.4% in 2013, down from 4.2% last year and 5.8% in 2011, NRF said Monday. "Many people will be shopping for price more often, and there may be some trading down and reshuffling because of changes that many people are seeing in their paychecks," said President and CEO Matthew Shay.

Related Summaries