NRF calls for 4.1 percent gain in 2014 retail sales

Consumer spending—which represents roughly two-thirds of all economic activity—remains the linchpin of GDP growth, which happens to have shown decent gains over the last two reported quarters.

That said, the level of retail spending and related expectations is closely followed and analyzed by many. But perhaps the most telling is the National Retail Federation’s (NRF) annual economic forecast for 2014.

The NRF said last week that it expects 2014 retail sales, not including automobiles, gas stations, and restaurants, to head up 4.1% compared to 2013, which is ahead of the preliminary 2013 increase of 3.7% over 2012. And it also said that the fervent pace of e-commerce activity will continue, with a projected 9-to-12% increase in online sales.

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