New York, NY, January 16--According to the trade group the National Retail Federation (NRF), a slowdown in the housing market and rising energy costs will likely cause 'subdued' retail sales growth in 2006.
Excluding cars, gas stations and restaurants, retail industry sales will rise 4.7 percent this year, compared with a 6.1 percent rise last year. The NRF, which is having its annual meeting in New York this week, predicted a 5 percent rise in retail sales in the first quarter of this year, compared with the 6.5 percent rise in the fourth quarter of 2005.
The RF said that it expects building-related stores to lose some headway as the housing market slows this year.
