Photo: BrianZim, Flickr
Ironically, one of the softer areas of the economy lately has been “end demand” as retail sales have been fairly mediocre for the last few months.And of course, with gas prices rising, retail sales appear to be even more under threat.
Anyway, today we get February retail sales, coming out 8:30 AM.
Weekly chain store sales, which closely track general merchandise sales in the monthly Census report, were much stronger than expected in February. In addition, unit sales of motor vehicles jumped to the highest rate since early 2008. Higher gas prices, which have the ability to dampen spending elsewhere, will also contribute to headline retail sales in February. We forecast an increase of 1.0% in February retail sales (Consensus: 1.1%), excluding autos we expect retail sales to have increased by 0.7% (Consensus: 0.7%).
We’ll have the data here in a few hours.