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2016 retail forecast upgraded

July 27, 2016

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The National Retail Federation has upgraded its earlier retail forecast for 2016 as consumer spending is expected to remain solid for the remainder of the year. Sales are now expected to grow 3.4 percent, rather than 3.1 percent, an increase of 7 to 10 percent year-over-year, rather than the 6 to 9 percent forecasted earlier.

“Economic indicators are showing positive trends for retail,” said NRF President and CEO Matthew Shay, noting the improved housing market, job growth, higher wages and other factors that have boosted consumer spending.

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