SCOREBOARD: US retail therapy

Wall Street rises as retail sales grow in America and the stable outlook for Europe continues.

Well, there was no confusing last night’s retail numbers. The US consumer is back and sales rose 1.1 per cent as expected in February to prove it. Core sales were up 0.5 per cent after an upwardly revised 1 per cent (was 0.6 per cent). Annually, sales are 6.5 per cent higher, but the average of the last few months (0.7 per cent) annualises to a stronger 8.4 per cent pace (average is 4.6 per cent). The even better news is that ‘Grammar Watch’ didn’t detect any attempt to play it down.


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