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COVID-19: Positive Retail Sales Predicted Regardless of Uncertainties

Outcomes for the spread of coronavirus and the 2020 presidential election hang in the balance

Published

4 years ago

February 26, 2020

VMSD Staff

The National Retail Federation (Washington, D.C., NRF) is predicting retail sales in 2020 will increase between 3.5 and 4.1 percent to more than $3.9 trillion, according to Footwear News, despite the looming threat of coronavirus and other uncertainties regarding the upcoming U.S. presidential election.

“There are always wild cards we cannot control like coronavirus and a politically charged election year, but when it comes to the fundamentals, our economy is sound and consumers continue to lead the way,” Matthew Shay, NRF’s President and CEO, said in a statement.

The NRF also believes U.S. employers will gain anywhere from 159,000 to 170,000 jobs per month this year, compared to 175,000 in 2019; they also predict unemployment will stay around 3.5 percent.

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