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U.S. Retail Sales rose by 0.2% in January

Friday, Feb 12 2016
Retail sales increased for a third straight month in January as Americans kicked off 2016 by spending freely on cars, clothing and online merchandise. The 0.2% increase matched the previous month’s advance that was initially reported as a decline, Commerce Department data showed Friday. The median forecast called for a 0.1% gain in January. Excluding cheaper gasoline, which depressed service-station receipts, purchases climbed 0.4%.
 Greater job security, improving wage growth and falling gasoline prices may be persuading more consumers to loosen their purse strings after a fourth-quarter slowdown. A pickup in household purchases, which account for the lion’s share of the economy, would help the U.S. stave off the negative effects of a strengthening dollar, sluggish foreign demand and tumultuous financial markets.
 
Euro is currently being traded around 1.1240 level, Steling is at 1.45 handle, while Aussie is at 0.7090 area. Later today, Consumer Sentiment figures are scheduled for a release.
 
Source: Bloomberg.com
More in this category: « Euro area GDP rose by 0.3% in Q4 U.S. Consumer Sentiment unexpectedly decreased to 90.7 »

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