Retail Sales to Overcome Uncertainties Like Coronavirus to Rise in 2020

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXMPEB050A3_M.jpg
© Reuters. © Reuters.

By Kim Khan

Investing.com – Retail sales U.S. will continue to climb this year, overcoming uncertainty due to the coronavirus and also trade wars and the presidential election, the National Retail Federation said Wednesday.

Sales will rise 3.5% to 4.1% to between $3.93 trillion and $3.95 trillion in 2020, the NRF said. Online sales will be up between 12% and 15%.

Preliminary results for 2019 showed a rise in retail sales of 3.7% from the year ago to $3.79 trillion. Online and non-store sales rose 12.9%.

“With gains in household income and wealth, lower interest rates and strong consumer confidence, we expect another healthy year ahead,” NRF President and CEO Matthew Shay said in a statement.

“There are always wild cards we cannot control like coronavirus and a politically charged election year,” Shay said. “But when it comes to the fundamentals, our economy is sound and consumers continue to lead the way.”

The S&P consumer discretionary sector was up 1.4%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment