Retail Therapy For The Economy
Retail sales in the U.S. rose in February by the most in five months, reflecting broad-based gains that indicate the world’s largest economy is picking up.
Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
NFIB Small Business Optimism | FEB | 94.5 | 94.3 | 93.9 | |
Advance Retail Sales | FEB | 1.1% | 1.1% | 0.4% | 0.6% |
Retail Sales Less Autos | FEB | 0.7% | 0.9% | 0.7% | 1.1% |
Retail Sales Ex Auto & Gas | FEB | 0.5% | 0.6% | 0.6% | 1.0% |
Retail Sales Control Group | FEB | 0.5% | 0.5% | 0.7% | 1.0% |
The 1.1 percent advance matched the median forecast of 81 economists surveyed by Bloomberg News and followed a 0.6 percent increase in January that was larger than previously estimated. Demand improved in 11 of 13 industry categories, including auto dealers and clothing stores.
Cars last month sold at the fastest pace in four years, led by Chrysler Group LLC and a surprise gain from General Motors Co. Light-vehicle sales accelerated to a 15 million annual rate, the strongest since February 2008, according to Ward’s Automotive Group.
Purchases at clothing stores rose 1.8 percent, the most since November 2010. Furniture and general merchandise stores were the only categories to show a decrease in demand.
Excluding autos, gasoline and building materials, which are the figures used to calculate gross domestic product, sales rose 0.5 percent after a 1 percent increase in the previous month.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
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