Theese harsh winter months has further more pushed the sensitive industries. This does not change economists’ view on the U.S. economy, where retail sales are expected to increase in the coming months.
” The weakness in retail sales will not make us change our outlook on the U.S. economy. The winter has been particularly harsh in December and January, and it can still affect sales in stores. In particular, sales of cars pulling down firmly with a decrease of 2.1 percent compared to December , “writes macroeconomic analyst Kim Blindbæk from Sydbank in a comment.
Retail sales fell in January by 0.4 percent. When economists had actually expected an unchanged sales compared to December , it was a disappointment. Retail sales of exclusive cars was unchanged compared to December .
” This is the second consecutive month , retail sales are down , and the question is, of course , the extent to which the weather can explain the decline . We have heard from several car manufacturers , car sales have been hampered by the weather, and there are also several ” weather sensitive” sectors experiencing declining sales . We believe that retail sales will increase again in the coming months , “says Jyske Bank’s macro analyst Kim Fæster .
Apart from the weak detailtal it seems that the U.S. has been a less good start to the year 2014. Sydbank do not believe that it will have implications for U.S. monetary policy.
” We believe that the weak retail sales not a greater role for the U.S. federal bank monetary policy and the withdrawal of bond buying will continue in the coming months,” predicts Kim Blindbæk .
According Sydbank represents private consumption approximately 70 percent of the total U.S. economy.