“No one can accurately forecast what surprises the next year might hold, but the foundation of the economy is relatively sturdy and still on a sustainable path.”

Comments from National Retail Federation chief economist Jack Kleinhenz in the April issue of NRF’s Monthly Economic Review, which noted that NRF forecast last month that retail sales will grow between 2.5 percent and 3.5 percent in 2024. He added that the continuing recovery remains “highly reliant” on consumer spending.