Retail industry may experience significant slowdown

Plunging rates for container vessels that carry products into the U.S. has been seen as an industry signal that retail may be in for a slow end of the year, even during the peak shopping season, according to Bloomberg.

The National Retail Federation pointed to the many U.S. retailers that are worried about being stuck with high inventories, the news source reported.

"The troubling part is that charter rates are falling in the peak season," Johnson Leung, head of regional transport at Jefferies Group Inc. in Hong Kong, told the news source. "Sentiment among consumers and retailers isn't very strong."

Borders Books has already declared bankruptcy, as the book company may have been at the beginning of the trend in the industry. Low sales led to a complete default for the business, causing many Americans to lose their jobs, according to CNBC.

While many of the smaller and more specific retail stores may be in for a tough second half of the year, giants like Target and Wal-Mart could benefit from the hard economic times, as more people will go bargain shopping, the news source reported.