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06:49 PM

Retail Sales Forecast

Economic Watch: Retails Sales Forecast to Increase More in 2014

One of the biggest drivers of the U.S. economy as well as trucking freight is expected to outperform last year’s activity.

The National Retail Federation has released its 2014 economic forecast, projecting retail industry sales will increase 4.1%, up from the preliminary 3.7% growth seen in 2013. The estimate excludes sales of automobiles, gas stations, and restaurants.

Online sales in 2014 are projected to grow even more, coming in between 9% and 12% better than last year’s level.

“Measured improvements in economic growth combined with positive expectations for continued consumer spending will put the retail industry in a relatively good place in 2014,” said NRF president and CEO Matthew Shay. “Though headwinds in the form of the looming debt ceiling debates, increased health care costs, and regulatory concerns still pose risks for both consumers and retailers, we are cautiously optimistic and hopeful that the economic tides will change in 2014.”