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Barack Obama

Better economy may not benefit retail

Monday, January 28, 2013 - 01:42

Jan. 28 - Different outlooks are emerging within corporate America. Optimism is increasing for most businesses, but retailers are concerned that consumers may be wary about the economy. Bobbi Rebell reports.

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PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL 2013 is looking better for the U.S. economy. A new survey from the National Association for Business Economics showed businesses are planning for stronger economic growth. And with that will come jobs. NABE president Ken Simonson: SOUNDBITE: KEN SIMONSON, PRESIDENT, NATIONAL ASSOCIATION FOR BUSINESS ECONOMICS (ENGLISH) SAYING: "One third of the respondents said they expect their firms will be hiring in the next quarter. That was the best result since the April survey. Significantly more firms said they would be hiring than said so in the July or October surveys. And when you subtract out firms that said they would be reducing employment either through attrition or layoffs, we had double the positive response that we had seen in the October survey." The survey also showed wages are expected to rise. But the latest report on retail sales may indicate workers aren't rushing to spend that new cash. The National Retail Federation says sales will increase less than last year. It predicted consumers will shop more on price- and there may be some trading down. And shoppers are still adjusting to higher payroll taxes- that cut into discretionary spending. Consumers are also bracing for higher healthcare costs with the new regulations taking effect. Bricklin Dwyer is an economist at BNP Paribas: SOUNDBITE: BRICKLIN DWYER, ECONOMIST, BNP PARIBAS (ENGLISH) SAYING: "I think that's reflective of what we have seen in terms of consumer confidence and generally, you know, what is going in the real economy or the expiring of the tax measures and the impact that that has on expected spending for consumers." The forecast would be the lowest growth in three years.

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Better economy may not benefit retail

Monday, January 28, 2013 - 01:42

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