Retail sales will slump this year, trade group says
The National Retail Federation said U.S. retail industry sales growth will shrink to 3.4 percent this year, hampered by the lingering housing slump, Bloomberg reported. Sales will total $2.53 trillion in 2012 after inflation helped boost growth to a greater-than-projected 4.7 percent last year. The 10-year average annual growth rate was 3.1 percent, the organization said.
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