U.S. ECONOMICS: Better-Than-Expected February Retail Sales Tempered by January Revisions

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The reaction to the better-than-expected 0.3% gain in retail sales (+0.3% ex-autos) is largely offset by the deep downward revisions to January sales to -0.6% from -0.4% initially. This also applies to the core components of ex-autos (revised to -0.3% from unchanged) and ex-autos and gas (-0.5% from -0.2% prior).

According to Andrew Grantham from the Canadian Imperial Bank of Commerce (CIBC), it could take until at least March or April to get a more accurate picture of retail sales in respect of the lingering impact the weather has had on consumer habits as increased heating expense drains discretionary spending.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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