Home | News & Opinion | Retail Sales Likely Rose on Autos, Fuel

Retail Sales Likely Rose on Autos, Fuel

By
Font size: Decrease font Enlarge font
Autos big driver of increased retail sales Autos big driver of increased retail sales

Retail sales in the U.S. probably rose in February by the most in five months, spurred by the strongest demand for automobiles since 2008, economists said before reports this week.

The 1.1 percent rise would follow a 0.4 percent gain in January, according to the median forecast of 67 economists surveyed by Bloomberg News ahead of Commerce Department figures due March 13. Industrial production picked up in February, while inflation excluding food and energy remained in check.

Sales at retailers like Gap Inc. (GPS) and Target Corp. (TGT) last month beat analysts’ estimates, a sign an improving job market is helping bolster consumer spending, the biggest part of the economy. A pickup in payrolls, accompanied by limited wage growth, may not be enough to satisfy Federal Reserve officials, who this week will probably reaffirm their commitment to keeping interest rates low through 2014.

“Retail sales could be pretty strong for February,” said Omair Sharif, an economist at RBS Securities LLC in Stamford, Connecticut. “The better job growth numbers are helping. Fed policy makers are going to sit back and take stock” rather than make any new moves.

Read More

Join PRESIDENT&CEO on LinkedIn

Subscribe to comments feed Comments (0 posted)

total: | displaying:

Post your comment

  • Bold
  • Italic
  • Underline
  • Quote

Please enter the code you see in the image:

Captcha
  • 2014 Energy Symposium
    Will the recent upturn in oil & gas mergers and acquisitions continue and how can mid-size energy companies take best
    Apr 16, 2014
  • Mid Market Corporate Finance Conference - London
    Redcliffe’s conferences have become increasingly popular over the last few years. The annual conferences on Debt and Private Equity, which
    Jun 16, 2014
Middle Market Research