NRF Says Economy ‘Being Rebalanced’ but ‘Extreme Cooling Off’ Seems Unlikely 
The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz. “Though many people fear an extreme cooling off of the economy, there is not an overwhelming amount of evidence to support such predictions,” Kleinhenz said. “In general, the data suggests that we remain in an ongoing expansion.”Kleinhenz’s remarks came in the June issue of NRF’s Monthly Economic Review, which noted that the latest Blue Chip Economic Indicators survey of economists projects that gross domestic product will climb 2.6 percent this year and another 2.1 percent in 2023. | More Information


U.S. Ports Remain at Near-Record Volume as Demand Continues and West Coast Contract Deadline Approaches
Imports at the nation’s major retail container ports should see near-record volume again this month as retailers work to meet still-strong consumer demand and also protect themselves against potential disruptions at West Coast ports, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “We’re in for a busy summer at the ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Back-to-school supplies are already arriving, and holiday merchandise will be right behind them.” | More Information


May Retail Sales Slow Amid Ongoing Inflation
Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF President and CEO Matthew Shay said. “Retailers are doing what they can to keep prices down, but we continue our call on the administration to repeal unnecessary and costly tariffs on goods from China to relieve pressure on American consumers and their family budgets.” | More Information

NRF Says Economy ‘Being Rebalanced’ but ‘Extreme Cooling Off’ Seems Unlikely 
The Federal Reserve faces “a tricky job” in addressing inflation but continuing growth in employment, wages and consumer spending make it unlikely the effort will backfire into a major setback for the economy, National Retail Federation Chief Economist Jack Kleinhenz. “Though many people fear an extreme cooling off of the economy, there is not an overwhelming amount of evidence to support such predictions,” Kleinhenz said. “In general, the data suggests that we remain in an ongoing expansion.”Kleinhenz’s remarks came in the June issue of NRF’s Monthly Economic Review, which noted that the latest Blue Chip Economic Indicators survey of economists projects that gross domestic product will climb 2.6 percent this year and another 2.1 percent in 2023. | More Information


U.S. Ports Remain at Near-Record Volume as Demand Continues and West Coast Contract Deadline Approaches
Imports at the nation’s major retail container ports should see near-record volume again this month as retailers work to meet still-strong consumer demand and also protect themselves against potential disruptions at West Coast ports, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “We’re in for a busy summer at the ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Back-to-school supplies are already arriving, and holiday merchandise will be right behind them.” | More Information


May Retail Sales Slow Amid Ongoing Inflation
Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF President and CEO Matthew Shay said. “Retailers are doing what they can to keep prices down, but we continue our call on the administration to repeal unnecessary and costly tariffs on goods from China to relieve pressure on American consumers and their family budgets.” | More Information