The US’ National Retail Federation (NRF) yesterday forecasted 2.5% to 3.5% growth in US retail sales this year, totaling $5.23 trillion to $5.28 trillion, slightly lower than last year’s 3.6 percent growth. Excluding auto, gas, and dining, the forecast includes online sales. NRF attributes the restrained growth to ongoing inflationary pressures, but anticipates potential consumer spending boosts with expected mid-year interest rate cuts by the Federal Reserve.