NEW YORK—Total U.S. retail sales, including food services, are expected to decline 5 percent in the first half of 2009, but increase 2.7 percent in the second half, due in part to the possible government stimulus package expected to be introduced shortly after President-elect Barack Obama takes office next week.
As reported by FLEXNEWS, International Council of Shopping Centers (ICSC) Chief Economist Michael Niemira said during a conference call Jan. 15: "There's a hell of a lot of pessimism out there that things will never turn around and that's actually the wrong way to look at. Frankly, at these times, you have to think about what are the catalysts for growth and how do you play it from a retailer's standpoint?"
