NRF: Retail sales trending higher in 2018

The National Retail Federation (NRF) forecasts higher-than-expected retail sales in 2018, specifically, the U.S. tax reform that passed earlier this year.

The organization predicts spending at retailers, other than auto, gas stations and restaurants, will reach at least 4.5 percent, according to CNBC, compared to previous forecast at 3.8 to 4.4 percent.

“Higher wages, gains in disposable income, a strong job market and record-high household net worth have all set the stage for a very robust growth in the nation’s consumer-driven economy,” says NRF CEO Matthew Shay.

Sales in the first half of 2018 were up 4.8 percent compared to last year.