NEW YORK (AP) – The National Retail Federation is forecasting retail spending growth of 3.1 percent in 2016, a slowdown from the group’s annual estimate a year ago. The nation’s largest retail trade industry group says the uptick would top the 10-year average of growth of 2.7 percent. Online, mobile and catalog sales are expected to fuel the uptick, with growth of about 6 to 9 percent. “There are a lot of positives in the economy,” said NRF CEO Matthew Shay. But he noted that economic volatility could make people feel uncertain about the future, and inhibit spending. The group’s annual estimate reflects sales retailers such as discounters, department stores and grocery stores, but excludes sales at automotive dealers, gas stations and restaurants.
