But turmoil in the markets is likely to grow as the nation draws closer to the Oct. 17 deadline for raising the debt ceiling.
Business groups are concerned about the debt-limit increase, which the administration says is needed to avoid a catastrophic default, and say the government shutdown has already damaged the economy.
Spending represents 70 percent of all economic activity in the country.
Shay called the figures "deeply disturbing" and said that "a lasting decline in consumer confidence is likely to translate into increased unemployment and slower growth in coming months."
The NRF has joined other groups, such as the National Association of Manufacturers and the Business Roundtable, in expressing their frustration at congressional inaction.
Over the coming days, the organization said it would be coordinating with retailers and small business owners and engaging members and grassroots advocates in its call to reopen the government.
Meanwhile, on Tuesday, the National Association of Manufacturers (NAM) sent a letter to congressional leaders imploring them to raise the debt limit.
"The failure of policymakers to address this critical issue is injecting uncertainty in the U.S. economy, hampering the ability of manufacturers and the broader business community to compete, invest and create new jobs," wrote Jay Timmons, president and CEO of NAM.
"Our nation’s economic future depends on your actions," Timmons said. "Now is the time to rise above partisan differences and put the nation’s best interests first by addressing the debt limit."
Shay said the government shutdown has prevented the release of many valuable economic indicators needed for retailers to make business decisions and said that "kicking the can down the road ... is an irresponsible approach to the problems confronting our nation."
"We need leadership from both ends of Pennsylvania Avenue on the key issues facing our country, particularly policies that put the economy on a firm footing for long-term growth."
He suggested President Obama and congressional Republicans address policies that could entice both sides to seek a quick solution, including tax and entitlement reform, and new trade programs.