Retail Sales Rebound Shows Consumer ‘Resiliency,’ Says NRF Economist

Though retail sales have “largely recovered” from COVID-19 lockdowns heading into the holiday season, the spike in coronavirus cases nationally “remains a threat,” said National Retail Federation Chief Economist Jack Kleinhenz Monday. “Strong growth in retail sales during the last few months points to the resiliency of consumers even in this disruptive pandemic environment,” Kleinhenz said. “Taking in all the evidence available, the U.S. economic recovery has progressed more quickly than generally expected.” NRF is awaiting additional economic data before releasing its annual holiday spending forecast.