NEW YORK (AP) — The nation’s largest retail trade group expects retail sales will increase at a slightly faster pace this year than last as continued improvements in jobs and housing should help shoppers feel more confident about spending.
The Washington-based National Retail Federation said that it expects retail sales will rise 4.1 percent to $3.24 trillion in 2014. That’s higher than the preliminary 3.7 percent growth seen in 2013 and above the average growth rate of 3.6 percent over the previous 10 years.
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