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federation had already adjusted its forecast up for retail sales. previously, the group had forecast sales to be up between % and % over , but on monday, nrf said it expects retail sales, excluding cars, gas and restaurants, to increase by at least %.
"higher wages, gains in disposable income, a strong job market and record- high household net worth have all set the stage for very robust growth in the nation's consumer-driven economy," nrf president and ceo matthew shay said, crediting tax reform for creating a windfall for consumers. news clippings...
https://texprocil.org/ibtexnewsclipping/IBTEX16082018.pdf