amazing the difference that a few days make...
time decay and this bounce are working their magic, then again, will we sell off after AG speaks ? or at EOD ? always interesting, never a dull moment.
and by these news, we may not be about to fall off a cliff ? who knows...
US retail sales show recovery in January
By Peronet Despeignes in Washington
Published: February 13 2001 14:10GMT | Last Updated: February 13 2001 14:32GMT
US retail sales in January rose at the fastest pace in four months, according to figures released on Tuesday.
The US Commerce Department said retail sales grew 0.7 per cent in January to $273.3bn after a paltry 0.1 per cent rise in December. It was the strongest gain since September.
Excluding auto sales, retail sales grew at the fastest pace since July. Demand for both soft goods, such as drugs and gasoline, and durable goods, such as furniture, was strong.
The results may soothe some recession jitters, but several economists argue that the increase is likely to have been inflated because unusually cold weather in December not fully accounted for by seasonal adjustments.
They believe the coldest November-December period on record in the US shifted some sales into January.
news.ft.com |
