The National Retail Federation (NRF) remains upbeat on the outlook for US consumer spending in 2019. The trade group forecasts that retail sales will rise between 3.8% and 4.4% this year, roughly in line with the annual pace of growth in recent history.
"We believe the underlying state of the economy is sound," NRF President and CEO Matthew Shay said in a statement last week.
"More people are working, they're making more money, their taxes are lower and their confidence remains high."
The strong gain in US payrolls in January certainly supports Shay's optimism. As