WASHINGTON (dpa-AFX) - The National Retail Federation Thursday issued a forecast that sees retail sales to increase in 2021 as more people get vaccinated and the economy reopens.
The NRF anticipates retail sales to grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021.
Online sales, which are included in the total, are expected to grow between 18 and 23 percent, to between $1.14 trillion and $1.19 trillion, according to the NRF.
'Despite the continuing health and economic challenges COVID-19 presents, we are very optimistic that healthy consumer fundamentals, pent-up demand and widespread distribution of the vaccine will generate increased economic growth, retail sales and consumer spending,' NRF President and CEO Matthew Shay said.
NRF expects the overall economy to gain between 220,000 and 300,000 jobs per month in 2021, depending on the pace of the overall economy in the second and third quarters.
Copyright RTT News/dpa-AFX
© 2021 AFX News
