“The resiliency of consumers continues to power the American economy, and we are confident there will be moderate but steady growth through the end of the year.”

National Retail Federation president and CEO Matthew Shay, commenting on NRF’s forecast that retail sales will increase in 2024 between 2.5 percent and 3.5 percent to between $5.23 trillion and $5.28 trillion. The announcement was made during NRF’s fourth annual State of Retail & the Consumer virtual discussion on the health of American consumers and the retail industry.