Consumer Behavior
Economy sturdy despite slow growth forecast
April 10, 2024
Despite predictions for slower growth in retail sales the economy remains sturdy, according to the National Retail Federation, and should continue to do well the rest of 2024.
"Barring unexpected shocks, it should continue growing in 2024, although not spectacularly," National Retail Federation Chief Economist Jack Kleinhenz said in the April issue of the NRF's Monthly Economic Review.
While overall economic growth is expected to be modest, consumer spending should hold up as inflation slows gradually, according to the report.
"Consumers' behavior and spending power are tied to their financial health, and the consumer sector looks good at the moment," Kleinhenz said.
Related Media
Subscribe
Get the latest news and resources from Retail Customer Experience.
