NRF blames politicians for fragile economy

Filed under: Daily News | Tags:,

January retail sales, which rose only 0.3 percent show consumer confidence is barely rising from the gutter. 

fragile

Consumers are bogged down in payroll taxes and rise in gasoline and energy prices, say National Retail Federation executives, who blame politicians.

“Today’s retail sales figures continue to indicate a stable yet fragile economy,” NRF President and CEO Matthew Shay said. “Consumers are continuing to hold back on spending just as our economy is held back by political brinkmanship in D.C. The economy will continue to

In late January, NRF released its annual retail sales forecast for 2013. NRF estimates that retail industry sales (excluding automobiles, gas stations and restaurants) will increase 3.4 percent in 2013, with online sales set to grow between 9.0 and 12.0 percent.

Other findings from the January retail sales report include:

• Clothing and clothing accessories stores’ sales decreased 0.3 percent seasonally-adjusted month-to-month and increased 5.9 percent unadjusted year-over-year.

• Electronics and appliance stores’ sales increased 0.2 percent seasonally-adjusted month-to-month and increased 2.7 percent unadjusted year-over-year.

• Furniture and home furnishing stores’ sales decreased 0.2 percent seasonally-adjusted month-to-month and increased 5.8 percent unadjusted year-over-year.

• General merchandise stores’ sales increased 1.1 seasonally-adjusted month-to-month and decreased 0.3 percent unadjusted year-over-year.

• Health and personal care stores’ sales decreased 1.0 percent seasonally-adjusted month-to-month and increased 0.7 percent unadjusted year-over-year.

• Nonstore retailers’ sales increased 0.9 percent seasonally-adjusted month-to-month and increased 17.5 percent unadjusted year-over-year.

• Sporting goods, hobby, book and music stores’ sales increased 0.6 percent seasonally-adjusted month-to-month and increased 8.3 percent unadjusted year-over-year.