Retail Sales Rose In February; Spending Was 'Relatively Robust' | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Retail Sales Rose In February; Spending Was 'Relatively Robust'

Retail sales rose an estimated 1.1 percent in February from January and were up 4.6 percent from February 2012, the Census Bureau says.

Kathy Bostjancic director of macroeconomic analysis at the The Conference Board research group, says in an analysis sent to reporters that the report's a sign that "consumer spending remains relatively robust." And since consumers buy about 70 percent of all goods and services, their willingness to spend is a key economic driver.

Bloomberg News notes that the rise in February was "the most in five months" and was more than forecast.

"It's a positive indicator that consumers are adjusting to the higher payroll taxes and higher gasoline prices," Russell Price, senior economist at Ameriprise Financial Inc. in Detroit, tells Bloomberg. "People are encouraged by the employment gains we've seen."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Stephen Hawking Says Zayn Malik Could Still Be In One Direction In A Parallel Universe

Millions of hearts were broken last month when Zayn Malik left One Direction, but according to physicist Stephen Hawking, that might not be the case after all.
NPR

Competitive Bartender Pours Father's Wisdom Into Signature Drink

Bartender Ran Duan will represent the U.S. in a Bacardi international cocktail competition. His specialty? "Father's Advice," a stirred-not-shaken cocktail that's a testament to his hardworking dad.
NPR

Fact Check: Is The Clinton Foundation 'The Most Transparent'?

Since Hillary Clinton launched her presidential run, her family's foundation has been scrutinized. The Clintons responded, calling it the most transparent organization of its kind. But is that true?
NPR

How Tech Firms Are Helping People In The Nepal Earthquake Zone

Tech and telecom companies stepped up with much needed services. Facebook and Google offered tools to help those in the region let family and friends know they're OK. Other firms cut calling costs.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.