Preliminary results show retail sales for 2020 grew 6.7% to $4.06 trillion, above the trade body’s forecast of at least 3.5% growth, the NRF said. The retail sales numbers exclude automobile dealers, gasoline stations and restaurants.
New rounds of stimulus-driven consumer spending in the coming months will strengthen retail sales, should . Congress pass the Biden administration’s support plan that includes sending a $1,400 check to households. The trade body’s forecast follows other estimates from companies like consumer research firm Customer Growth Partners .
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