The reading misses the median economist estimate for a 0.5% contraction.
Retail sales are a popular gauge of consumer spending, which counts for 70% of US GDP.
Spending at US retailers slid in February as the effects of stimulus enacted late last year petered out.
US retail sales contracted 3% last month, the Census Bureau said Tuesday. Economists surveyed by Bloomberg expected sales to decline by 0.5% in February. January s blowout reading was revised higher to 7.6%.
The reading marks the fourth decline in five months. Retail sales are seen as a key gauge of overall consumer spending, and since such spending drives roughly 70% of economic activity, the Census Bureau s monthly report has taken on new importance as much of the US sits in prolonged lockdowns.
MLO, Recruiting, Training Jobs; Sales, Doc, Processing Tools; LLPA Price Adjustment Changes Sweep Through Investors Mar 16 2021, 8:04AM
Time flies. Ringo is 80!? I bet he’s done some vacationing in the last 60 years. I gave my wife a dart and a poster of a world map and told her, “Throw this and wherever it lands I’m taking you on vacation when this pandemic is over.” Turns out we’re going to be spending two weeks behind the fridge. Will there be demand for summer vacations this year? There is certainly an ample supply of places to go and stay… Supply and demand rules all! For example, rents have declined dramatically in big cities like San Francisco and New York as WFH people have moved out & demand dropped, but landlords are beginning to lease up again as decreased rents appear to be enticing tenants to return to the city, or hold on to current residents. In Manhattan, Brooklyn, and Queens, the number of leases signed last month beat the re
Europe rises, German sentiment jumps
March 16, 2021SharePrint
European bourses are out of the blocks on the front foot after an upbeat session on Wall Street, which saw the Dow and the S&P500 hit fresh all-time highs. Encouraging earnings from the likes of Volkswagen and Zalando are underpinning the mood as is the better-than-expected ZEW sentiment data for the region, providing a good distraction from the one-step-forward, two-steps-back vaccine debacle in Europe.
The record high reached in the US overnight reflects a strong positive mood in the market, which has carried over into the European session. Investors are betting on a dramatic US economic recovery supported by a huge US fiscal stimulus package and a rapid vaccine rollout programme.
US e-commerce sales will hit $1 trillion for the first time next year, as the pandemic continues to impact consumer habits, Adobe Analytics predicted Monday.Digital spending will reach $850 billion to $930 billion this year based on the current growth trajectory, the company noted. Between.
Inflation nerves return
US yields rise, boost dollar
The inflation genie I mentioned on Friday found life rather uncomfortable in its bottle, it appears, as US yields shot higher on Friday. Notably, the long end of the curve steepened markedly, and for all the noise surrounding the rise in 10-year yields, the 30-years was where the real action was.
That was enough to unwind the intra-day rallies on Wall Street, with the rotation into cyclicals at the expense of technology very much in evidence again. That left the Dow Jones higher, the Nasdaq stretchered of injured once again, and the S&P 500 left somewhere in the middle.