WASHINGTON–The National Retail Federation expects retail industry sales--which exclude automobiles, gas stations and restaurants--to decrease 0.5 percent from last year.
The projections are part of the NRF’s 2009 economic forecast released today.
“Most of the consumer behavior we saw in 2008 will continue well into this year,” said NRF chief economist Rosalind Wells, in a statement. “Shoppers will be seeking value and trading down to discount and off-price retailers in order to stretch their purchasing power.”
Retail sales in the first half of the year are poised to decline 2.5 percent, the NRF projects. The third quarter will show some improvement, as sales are expected to decrease 1.1 percent. In the fourth quarter, sales are projected to improve 3.6 percent “due to easy comparisons to last year as well as a strengthening economy,” the NRF said.