Retail federation forecasts 2009 sales decline
The National Retail Federation on Tuesday projected retail industry sales to decrease 0.5 percent from 2008, and the organization sees more challenges ahead as consumers continue to shift their spending priorities.
The first half of the year will see a continuation of the weakness that was felt in most of 2008, as first-half sales are expected to decrease 2.5 percent, according to the NRF. Third-quarter sales are expected to decrease 1.1 percent, while fourth-quarter sales are expected to improve 3.6 percent.
“Shoppers will be seeking value and trading down to discount and off-price retailers in order to stretch their purchasing power,” NRF Chief Economist Rosalind Wells said in statement.
BGE: Customers can expect seasonal bill increases
Baltimore Gas and Electric Co. is urging its consumers to take actions that can reduce natural gas and electricity usage brought on by colder temperatures. The actions will help lessen the effect of extreme winter weather on heating bills.
“It is not uncommon for customers to experience an increase in energy usage and bill amounts during this time of year, when temperatures are typically at their coldest,” Jeannette Mills, senior vice president of customer relations and account services for BGE, said in a statement.
BGE recommends its consumers lower the thermostat, decrease hot water use, use foil tape to close loose seals and gaps in heating system ducts and keep blinds open during the day to let the sun in and closed at night to keep cold air out.
– Compiled by Andrew Cannarsa
