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The National Retail Federation predicts that consumers will spend more money in 2015 than last year, with sales rising 4.1 percent.
This expected increase would be the biggest sales uptick since 2011, the organization reports in a news release.
“Already facing far fewer obstacles than this time last year in terms of growth opportunities, retailers are optimistic about the potential that exists for healthy growth in retail sales and consumer engagement in 2015,” Matthew Shay, NRF president and CEO, says in the news release.
The labor market is also predicted to improve as retail sales and the economy grow healthier. NRF, which is a retail trade association, predicted between 220,000 and 230,000 new jobs per month throughout 2015, with unemployment dropping 5 percent by year’s end.
Extra disposable income from decreased gas prices is expected to help drive consumer spending, an article from The Washington Post says.
To read the full press release by NRF, click here.
To read The Washington Post article, click here.
