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

New Technology Immerses Audiences At Sundance Film Festival

From flying like a bird to walking through a refugee camp in Syria, virtual reality has enabled journalists, filmmakers and artists to immerse their audience in their stories like never before.
NPR

Sandwich Monday: Girl Scout Cookie Coffeemate

For this week's Sandwich Monday, we try Girl Scout Cookies in a new form. Coffeemate has somehow blended them into nondairy creamer, so you can start your day the disturbing way.
NPR

At Koch Summit, A Freewheeling Debate Among GOP Hopefuls

Do billionaires have too much influence in both major parties? Three top Republican presidential prospects say no.
NPR

Just Plane Sad: A Show Of Support For SkyMall

News last week that SkyMall's parent company has filed for bankruptcy protection inspired an outpouring of odes to the kitschy in-flight catalog.

Leave a Comment

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