Retail sales are projected to increase a modest 4.7 percent this year, much less than the 6.1 percent gain in 2005 as higher energy prices, a still shaky labor market and a slowdown in the housing market dampen spending, the National Retail Federation said Monday.
The National Retail Federation said that in the first quarter, total retail sales should increase 5 percent compared to a year ago. That’s less than the 6.5 percent gain achieved in the fourth quarter of 2005. Total retail sales exclude business from auto dealers, gas stations and restaurants.
