Courtesy of Mish.
Weather Surprisingly Worse
Retail sales were down for the third month today. The Economists Blame Cold Weather.
U.S. retail sales unexpectedly fell for a third straight month in February as harsh weather kept consumers from auto showrooms and shopping malls, tempering the outlook for first-quarter growth and a June interest rate increase. “This report points to a surprisingly bigger weather impact on spending activity than previously thought,” said Millan Mulraine, deputy chief economist at TD Securities in the New York.
Bloomberg Consensus
The Bloomberg Econoday Consensus Is amusing as well.
| Component | Prior | Prior Revised | Consensus | Consensus Range | Actual |
|---|---|---|---|---|---|
| Retail Sales – M/M change | -0.8 % | -0.8 % | 0.3 % | -0.1 % to 0.5 % | -0.6 % |
| Retail Sales less autos – M/M change | -0.9 % | -1.1 % | 0.5 % | 0.0 % to 0.9 % | -0.1 % |
| Less Autos & Gas – M/M Change | 0.2 % | -0.1 % | 0.5 % | 0.0 % to 0.7 % | -0.2 % |
Retail Sales From Previous Month
Retail Sales From Previous Year
Charts from Commerce Department Advance Monthly Sales for February 2015.
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