U.S. retail sales rise on back of healthy holiday season [Advisor.ca (Canada)]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Advisor.ca
U.S. consumers shopped at stores and online outlets at a solid pace in December, closing out a healthy holiday season for retailers. The Commerce Department said Friday that retail sales rose 0.4% last month, after a 0.9% surge in November. Retail sales rose 4.2% in 2017, the most in three years. Strong holiday shopping should lift economic growth in the final three months of last year. Americans have been more confident about the economy and are more willing to spend. Further, the unemployment rate is at a 17-year low of 4.1%. Read: U.S. unemployment rate steady at 4-1% low Sal Guatieri, senior economist for BMO, described it as “one of the best shopping seasons in years.” He said “households are well positioned to spend, spend, spend in the new year.” “Today’s report solidifies our estimate of 3.1% annualized PCE growth in Q4 and 2.9% growth in real GDP, countering weakness in trade and inventories,” he said in the research note. Guatieri also calls
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Sec Filings
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