{"id":107883,"date":"2021-02-24T17:40:20","date_gmt":"2021-02-24T17:40:20","guid":{"rendered":"https:\/\/fin2me.com\/?p=107883"},"modified":"2021-02-24T17:40:20","modified_gmt":"2021-02-24T17:40:20","slug":"u-s-retail-sales-expected-to-rise-to-more-than-4-33-trillion-in-2021-nrf","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/u-s-retail-sales-expected-to-rise-to-more-than-4-33-trillion-in-2021-nrf\/","title":{"rendered":"U.S. retail sales expected to rise to more than $4.33 trillion in 2021: NRF"},"content":{"rendered":"<figcaption>FILE PHOTO: People visit the Destiny USA mall during the reopening, as the coronavirus disease (COVID-19) restrictions are eased, in Syracuse, New York, U.S., July 10, 2020. REUTERS\/Maranie Staab<\/figcaption><p>(Reuters) &#8211; U.S. retail sales are expected to rise between 6.5% and 8.2% to more than $4.33 trillion in 2021 as more people get vaccinated and the economy reopens, the National Retail Federation (NRF) said on Wednesday.<\/p>\n<p>Preliminary results show retail sales for 2020 grew 6.7% to $4.06 trillion, above the trade body\u2019s forecast of at least 3.5% growth, the NRF said. The retail sales numbers exclude automobile dealers, gasoline stations and restaurants.<\/p>\n<p>\u201cOur principal assumption is that the vaccination will be effective and permits accelerated growth during the mid-year. The economy is expected to see its fastest growth in over two decades.\u201d NRF Chief Economist Jack Kleinhenz said in a statement.<\/p>\n<p>U.S. retailers such as Macy\u2019s have indicated that it is accounting for some benefits from the rollout of the COVID-19 vaccine as shoppers will be able to step out and travel more, helping sales at brick-and-mortar stores pick up after a rough 2020.<\/p>\n<p>New rounds of stimulus-driven consumer spending in the coming months will strengthen retail sales, should the U.S. Congress pass the Biden administration\u2019s support plan that includes sending a $1,400 check to households.<\/p>\n<p>The trade body also said online sales, which are included in the overall number for 2021, were expected to increase between 18% and 23% to between $1.14 trillion and $1.19 trillion.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-usa-retail-outlook\/u-s-retail-sales-expected-to-rise-to-more-than-4-33-trillion-in-2021-nrf-idUSKBN2AO26S\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: People visit the Destiny USA mall during the reopening, as the coronavirus disease (COVID-19) restrictions are eased, in Syracuse, New York, U.S., July [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":107882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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