NRF Says Retail Sales Will Grow Steadily Through 2017, But Worry About Border Tax
The National Retail Federation said retail industry sales will grow between 3.7% and 4.2% in 2017.
That is according to its most recent economic forecast, which assumed the economy will remain strong this year, RetailDive reports. Those numbers exclude auto, gas and restaurant sales, but do include online sales, which alone are expected to grow up to 12%.
NRF highlighted border taxes as the biggest threat to retail’s expected stability this year, likely alluding to a Republican plan to increase import taxes while lowering the U.S. corporate tax. NRF chief economist Jack Kleinhenz said such border taxes are likely to hurt consumer confidence while failing to stop corporate inversions.