WASHINGTON / FRANKFURT (Dow Jones) – U.S. retailers, despite the snow storms that have raged in the second half of February on the east coast, saw increased sales. Retail sales unexpectedly climbed in comparison to the previous month by 0.3% to U.S. $ 355.546 billion, seasonally adjusted. (Photo: Buccino)
Economists polled by Dow Jones Newswires had expected a decline of 0.3%. Revenues increased without a car, according to the U.S. Commerce Department on Friday in February by 0.8%. Here, economists had expected only a small increase of 0.1%.
For January, the Ministry gave a revised rise of 0.1% (provisional: at plus 0.5%) for the overall index. The change in ex car was provisionally at plus 0.5% (: revised plus 0.6%). The retail sales data are considered a key indicator of consumer spending by U.S. consumers who play with a share of around 70% of gross domestic product has a key role in U.S. economy.
Sales of automobiles and auto parts fell by 2.0% in February, and in particular the problems caused by the Toyota group, whose sales rose 8.7% slump. Revenues from the gas stations placed in February by 0.3%, restaurants and bars have increased their sales by 0.9%.
For the health and care items that consumers spent 0.7% less, while sales of electronics and household appliances rose by 3.7%. The apparel stores increased their sales by 0.6% over the previous month.
Even the retailers who depend heavily on construction and real estate market and suffered significant losses in recent months had to recorded sales increases in February: The building and garden centers rose by 0.5% and furniture stores sold 0.7% more.
"If you look at the components that the increase was in February on a widespread basis," noted economist Postbank Thilo Heidrich. "The second consecutive rise in retail sales indicates a reasonable start in private consumption in the first quarter. He should provide in the current quarter, a positive contribution to GDP growth." The fears that the adverse weather conditions could adversely affect the U.S. consumer, have so far not confirmed any case.
Commerzbank economist Christoph Balz pointed out that the downward revisions of previous months have offset the positive surprise in February. Overall, however, believe that private consumption is not bad "given the headwinds of mass unemployment, low wage, high debt, and in February additionally fits into the picture the snow storms in the northeastern U.S.." More than a muted upward to leave but has not yet recognize.
BNP Paribas expert Brian Fabbri suspected that the forecasters overestimated the negative impact of snowstorms on both the initial as well as retail sales have. Since sales have stagnated over the Internet, the expert concludes that the citizens have gone in the northeastern U.S., despite the storms from their homes to buy. In particular, the more petrol filling stations sold, although the price has dropped.
-By Andrew Plecko, Dow Jones Newswires, +49 (0) 69 – 29725 300,
konjunktur.de @ dowjones.com
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