NRF economist: Economy moving “in right direction” — ChainStoreAge.com

The chief economist of the National Retail Federation believes that the economy is moving in the right direction, citing an increase in consumer spending:

“Indeed,  consumer spending – which makes up 70% of GDP – increased at an annual rate of 4.2% in the first quarter, which was four times the 1% growth in the fourth quarter of 2022 and the fastest growth since mid-2021 despite strong headwinds from interest rates and inflation.“

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