Retail spending to grow by 3.1 percent this year, industry leaders say

Retail sales are expected to grow by 3.1 percent in 2016, the National Retail Federation said Wednesday.shopping2

The forecast is above than the 10-year average of 2.7 percent growth, the national trade group said.

Florida Retail Federation officials said they expect to see a similar, and perhaps stronger, growth in sales for the state’s retailers in 2016.

“Florida’s economy continues to outpace the national economy, thanks to record-breaking tourism, a healthy housing market, high consumer confidence and tax cuts for businesses that have led to an increase in job creation, all of which bodes well for retailers” FRF President/CEO Randy Miller said. “Some of the slowing sales issues that impacted northern states at the end of 2015 didn’t influence retailers in Florida as much, and we expect it to be a successful 2016 for Sunshine State retailers.”

 

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