Highlights
ICSC-UBS reports continued weakness in retail sales, at a 1.6 percent year-on-year rate for one of the softest rates of the expansion. Week-to-week sales rose 0.7 percent but are still short of the prior week's 0.9 percent decline. The report is calling for a full month gain of only 0.6 percent in January, in what would be one of the weakest performances in 11 years of data. The report said consumers are worried about recession and are shopping less. It was last week's retail trade report from the Commerce Department that shook apart the outlooks for the economy and for Federal Reserve policy. Redbook is up next.