NRF Economist Says Economy is Expanding but Momentum is Slowing

The economy is still growing, but not as fast as it was earlier this year, National Retail Federation Chief Economist Jack Kleinhenz said today.

“The U.S. economy continues to expand but recent data is signaling a slowdown in its momentum,” Kleinhenz said. “The economy is slowing but not halting.”

“Progress has been made on combating inflation, but higher prices remain,” Kleinhenz said. “While consumers are still spending, the composition of their spending continues to favor services over retail goods and even then, there was less momentum going into the third...

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