The National Retail Federation sees positive momentum, if some challenges, for retail sales in the second half of the year.
“The first half of the year is over and the economy is still moving in the right direction,” NRF Chief Economist Jack Kleinhenz said last week. “While its rhythm, tone and pattern have slowed, it has not stalled and recently revised data shows underlying strength that seems to be rolling forward.”
But Moody’s Investors Service is forecasting weak U.S. growth this year and next, “including a shallow recession in the second half of 2023.”
