2008 expected to be even slower for retailers

January 15, 2008 4:38:44 PM PST
The National Retail Federation predicted that sales will be at their weakest pace of growth in six years. Sluggish sales are expected as American consumers face rising unemployment, weakening credit and housing markets and higher food and energy costs.

The group predicts consumers will use more discretion in spending and will instead work to pay down their debt.