National Retail Federation cuts 2014 retail sales forecast
The National Retail Federation on Wednesday lowered its retail sales forecast for 2014, citing slow growth during the first half of the year. The trade organization said it now expects retail sales to grow 3.6 percent this year, down from its 4.1 percent forecast in January. It attributed some of the industry's sluggishness to the severe weather that kept consumers out of stores at the beginning of the year, and said it expects sales to grow "significantly faster" over the next five months.
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