US Retail Federation Revises Sales Forecast Down for 2015

July 22, 2015 Share Print 0

The Nation Retail Federation on Wednesday revised down its forecast for 2015 retail sales and said it expects back-to-school revenues to fall from last year.

The industry association anticipates retail sales growth of 3.5 percent this year, down from an earlier estimate of 4.1 percent. It cited “unexpectedly slow growth” during the first half of the year due to factors including treacherous winter weather and the West Coast port shutdown.

Households are also spending a growing share of their income on services rather than goods, the federation said.

“It’s a little bit like deja vu all over again. We did that last summer,” federation President and CEO Matthew Shay told CNBC’s “Squawk Box.”

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.