Retail sales surge 3% at start of 2023 in clear sign the economy is still growing
Retail sales are a big part of consumer spending and offer clues about the strength of the economy. Sales had been forecast to rise 1.9%, based on a Wall Street Journal poll of economists.Retail sales are a big part of consumer spending and offer clues about the strength of the economy. Sales had been forecast to rise 1.9%, based on a Wall Street Journal poll of economists.
At the same time, though, it could ramp up pressure on the Federal Reserve to keep raising interest rates to try to tame inflation. Strong economic growth tends to add to inflation presssures. One category economists watch closely is bars and restaurants, the only service sector in the retail report. Restaurant sales soared 7.2% last month after falling slightly in the last two months of 2022.
Why is this? Rising interest rates tend to weaken the economy by depressing consumer spending and business investment.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Retail sales surge 3% in January despite stubbornly high inflationAmericans continued to spend at restaurants, bars and other retail stores in January even as they confronted high inflation and rising interest rates.
Leer más »
US Retail Sales to rebound 2.2% MoM in January – ScotiabankAnalysts at Scotiabank offer a sneak peek at what they expect from Wednesday’s United States Retail Sales data. Key quotes “Looking for a headline +2.
Leer más »
January Retail Sales to Show Whether Consumer Spending Picked UpBreaking: U.S. retail sales rose 3% in January, rebounding sharply as job growth accelerated and inflation cooled slightly at the start of the year
Leer más »
US: Retail Sales rise by 3% in January vs. 1.8% expectedRetail Sales in the United States rose by 3% to $697 billion in January, the US Census Bureau reported on Wednesday. This reading followed December's
Leer más »
The best 2023 Super Bowl 2023 movie trailers, ranked | Digital TrendsThe 2023 Super Bowl featured trailers for the year's most anticipated movies like The Flash, Fast X, Creed 3, and Air, and we ranked them from worst to best.
Leer más »
ASML: trade war risks increasing, but no 2023 impact on China salesASML Holding NV on Wednesday warned growing global trade and export controls pose a threat to its business, but it does not expect new restrictions on exports to China to affect 2023 earnings.
Leer más »