US retail sales increase 4.4%
Unlike the mainstream media, which yesterday publicised the decline in US retail sales, the NRF (obviously) understands the industry. According to NRF Chief Economist, retail sales during February increased 4.4% over last year, excluding automobiles, gasoline stations and restaurants. The NRF said, "economic fundamentals are favourable for spending to expand in the coming months." We are glad we pointed this out yesterday.