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US consumer missed the headline I guessUS consumer missed the headline Doomsday headlines being very appropriately ignored by the mighty US consumer cohort.Negative interest rate talk being bandied about on this board yesterday. Not gonna happen HERE any time soon. Know and understand where you live my rec. U.S. retail sales rise amid higher wages, job gains 0 Comments CBS/AP Feb 12, 2016 11:07 AM EST WASHINGTON -- U.S. retail sales rose in January for a third monthly increase as labor-market gains and sliding gasoline costs helped in loosening purse strings following a slowdown in the last quarter of 2015. The Commerce Department said Friday that retail sales increased a seasonally adjusted 0.2 percent last month, the same as in December, which was revised higher from an initial estimated 0.1 percent drop. Excluding the effect of falling gas prices, sales rose 0.4 percent. Steady hiring and early signs that employers are finally handing out higher wages means that Americans have more money to spend. A key question for the economy this year is whether consumer spending can keep growing and offset the impacts of stock market volatility and slowing growth overseas. Sponsor content from Petsmart Get Your Aquarium Glowing Stunning color and beauty can now reside in your aquarium with GloFish. For a limited time at PetSmart; buy 3 and get 1 free! "The markets may have decided that the U.S. is headed for recession, but obviously no one told U.S. consumers," Paul Ashworth said in a research note. Low prices caused a sharp fall in gas station sales, but "otherwise, sales were strong across the board," he added. Americans stepped up their purchases in January of autos, home supplies and groceries, and spent more online. They spent less at restaurants and bars, likely because of harsh snowstorms on the East Coast. The retail sales report provides the first indication each month of Americans' spending, which drives 70 percent of the economy. Yet retail sales account for only about one-third of all spending, with services such as haircuts and Internet access making up the other two-thirds. |
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