Group Sees ‘Subdued’ Sales Growth

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Rising energy costs and a slowdown in the housing market could translate into subdued retail sales growth in 2006, industry trade group the National Retail Federation said in its quarterly retail sales forecast released on Monday.


The NRF, holding its annual conference in New York, predicted that 2006 retail industry sales — which exclude automobiles, gas stations and restaurants — will increase 4.7 percent from last year, with sales being constrained by a slowdown in the economy and consumer spending. In 2005, NRF said retail sales rose 6.1 percent, which was higher than the 5.6 percent gain it had been expecting.


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