Financial Times:
Data released on Friday showed US consumers beginning to reassert their buying power, but no clear indications that they are set to lead the economic recovery.
Retail sales rose by 0.5 per cent in January compared to December, as retailers recovered from a dip in December sales. Meanwhile, consumer sentiment unexpectedly dipped, according to the preliminary reading from the Reuters/University of Michigan survey. …
”It now appears that the big 5.7 per cent GDP headline gain…was even more concentrated in inventories than previously reported,” said Mike Englund at Action Economics. While the composition of inventories may boost the top line GDP figure, it is unlikely to play a role in supporting a sustained economic recovery.
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