The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the National Retail Federation.
While the reopening of businesses shut down by the coronavirus pandemic is a significant step forward, it is too soon to say how quickly or smoothly the nation’s economy will recover, National Retail Federation Chief Economist Jack Kleinhenz said in a statement.
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Personal Mobility, Retail Shopping, and Event Attendance Are Among the Areas Most Impacted, according to findings from an IBM Institute for Business Value (IBV) survey of U.S. consumers reveals shifting personal behavior and preferences resulting from the COVID-19 pandemic.
With some stores starting to reopen as governors lift stay-at-home orders across the country, economic recovery from the coronavirus pandemic is likely to come gradually and may vary by location, National Retail Federation Chief Economist Jack Kleinhenz said.
NRF President and CEO Matthew Shay explains that the smart, iterative strategies NRF members are building will help guide policymakers and business leaders through dozens of critical topics as we work to restore the American economy.
As a global health crisis potentially morphs into an economic one, Deloitte is conducting a series of biweekly surveys around the globe to better understand the interplay between personal safety and economic vulnerability.
Brian Dodge, president of the Retail Industry Leaders Association, has issued the following statement following the President’s announcement deferring some tariff payments for 90-days.
National Retail Federation President and CEO Matthew Shay told Washington officials that almost every sector in the economy has been greatly impacted by this crisis, and retail is at the top of that list.