herald

Sunday 20 January 2019

US spending to rise 4pc

US retail sales are expected to rise 4pc in 2011, continuing a trend of improving consumer spending last year.

Industry group National Retail Federation (NRF) said that stronger-than-expected sales in November and December made it "cautiously optimistic" that shoppers will further increase spending this year.

"With retailers leading the charge, the economic recovery appears to be gaining some steam," NRF chief executive Matthew Shay said in a statement.

But the NRF warned that reluctance of small businesses to add employees and higher gasoline prices could yet slow consumer spending.

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