Thursday, 14 March 2013

US retail sales rise, eurozone industrial production falls

In a good sign for the US economy, a Commerce Department report on Wednesday showed that retail sales rose 1.1 percent in February. It was the biggest increase in five months and followed a 0.2 percent increase in January.

Higher gasoline prices helped boost sales from gas stations by 5.0 percent. However, even excluding gas, sales rose 0.6 percent.

In another positive sign for the outlook on US consumer spending, the Federal Reserve reported on Wednesday that the household debt-service ratio fell to 10.38 percent in the fourth quarter, the lowest since the series started in 1980, from 10.56 percent in the third quarter.

Meanwhile, however, the eurozone economy continues to struggle. A report on Wednesday showed that Industrial production in the region fell 0.4 percent in January.

No comments:

Post a Comment