As a result of continuing worries over a slump in the housing market, rising energy costs, and slow growth in jobs, America’s National Retail Federation (NRF) is expecting sales to increase by a little as 3.5% in 2008.

According to the federation’s 2008 economic forecast the first half is expected to be sluggish, with sales likely to rise by only 3.2%, before picking up to 3.8% growth in the second half.

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