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www.IndependentRetailer.com NEWS Retail Drives Growth
IT WAS reported that December’s consumer confi dence level of 60 was something to be positive about, but how is this increase actually affect- ing shopping habits? According to a report on
Bloomberg.com, “Sales at U.S. retailers increased in Janu- ary by the most in four months.” In fact, the Commerce Department confi rmed there was a 0.4 percent gain in retail receipts, less than the projected 0.8 but an increase none- theless, compared to the 0.1 percent advance in December. All in all, the economy seems
to be turning around, and much in the favor of retail operators. Some of the contributing factors, according to
Bloomberg.com, include, “The
drop in unemployment to a three year low, which is evidence of an im- proving job market that’s essential to sustaining purchases.” Job growth has caused less apprehension in customer purchases, including big- ticket items. In effect, these gains in spending have caused an increase in inventory replenishment, as re- tailers and suppliers look to meet the demand of customers. Business inventories climbed 0.4 percent in January, a 0.1 percent increase from the prior month’s gain. It is forewarned, however, that
economists predict the increase in gasoline prices could negatively af- fect spending in the months ahead. As Mark Vitner, a senior economist
at Wells Fargo Securities in Char- lotte, NC, states in a recent Reuters article, “The rise in gasoline prices will likely take a toll on spending in coming months, unless income growth improves.” Still, the retail sales report adds to a recent run of fairly upbeat economic data, which some analysts say reduces the need for the Federal Reserve to ease mon- etary policy further, according to Reuters. With so many upward trends, “It’s hard to argue against the case that the U.S. economy is gaining momentum,” says Millan Mulraine, a senior U.S. strategist at TD Securities in NY. Consumer sales are predicted to continued on page 14
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INDEPENDENTRETAILER.COM for Industry News & Updates April 2012 9
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