US: Solid Retail Sales due to special factors – Wells Fargo By MSalordFX RetailSales UnitedStates Banks
in the US rose 3.8% in January, the biggest gain since March 2021. Analysts at Wells Fargo, point out the increase handily exceeded consensus expectations and was only partly a function of higher prices. They suspect that part of the increase “may have to do with certain merchandise finally becoming available.
“We still believe the factors that propelled strong growth in consumer spending last year are shifting and, in some cases, have reversed altogether. The biggest factor of all, in our view, is inflation. Most consumers have never seen anything like it, and it is weighing on sentiment and could force some difficult spending decisions for consumers this year.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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