Christian Retailing

NEWSLETTERS Current Issue NRF: February retail sales up, ‘economy primed for growth’
NRF: February retail sales up, ‘economy primed for growth’ PDF Print E-mail
Written by Jeremy Burns   
Thursday, 13 March 2014 09:49 AM EDT

MatthewShay-NRF-WebAmerican consumers powered through the winter weather, lifting retail sales in February. Last month’s retail sales—which exclude automobiles, gas stations and restaurants—increased 0.2% adjusted month-to-month and 2.3% unadjusted year-over-year, according to the National Retail Foundation (NRF).

“Today’s positive retail sales report indicates that the economy is primed for growth,” NRF President and CEO Matthew Shay said. “Retailers and consumers endured the harsh winter and they’re hoping both the natural and man-made obstacles to growth will leave with the snow.

“From new overtime mandates to persistent and political posturing on the minimum wage, retailers continue to face serious headwinds placed on them by policymakers in Washington. For the economy to fully recover, the [Obama] Administration and Congress should quit politicking and focus on growth and job creation.”

Book, music, sporting goods and hobby stores’ sales increased 2.5% seasonally adjusted month-to-month, yet decreased 5.3% unadjusted year-over-year, according to the NRF report.

February retail sales figures released today by the U.S. Census Bureau—which include categories such as automobiles, gasoline stations and restaurants—increased 0.3% seasonally adjusted month-to-month ($472.2 billion), outpacing the 0.2% growth forecast by economists polled by Reuters. The Census Bureau also reported that retail sales increased 1.5% adjusted year-over-year.

“Despite a long and cold winter, consumers continued to persevere and spend in February,” NRF Chief Economist Jack Kleinhenz said. “This month’s retail sales data is encouraging and above expectations. However neither the jobs nor retail data reflect the fundamental health of the economy. While the weather continues to play tricks on economic forecasts and figures, we expect much-needed clarity come spring as consumers release pent-up demand.”

 

In this current issue:

Destiny Image: 'We made the right decision'

News image

Citing major financial considerations, Nori Media Group CEO Don Nori...

READ MORE

LifeWay signs letter of intent on Nashville property

News image

After analyzing more than a dozen offers to purchase its...

READ MORE

700 Club, Joni to feature lauded HCI authors

News image

HCI Books authors Tonier Cain and Erin Merryn will get...

READ MORE

InterVarsity Press inks Tampa pastor to book deal

News image

Pastor, author and recording artist Tommy “Urban D.” Kyllonen has...

READ MORE

Worthy signs Sandra Hagee Parker for debut book

News image

Worthy Publishing announces it signing of author Sandra Hagee Parker—daughter...

READ MORE

Tuesday marks final day for CR’s Best nominations

News image

Vendors and authors still have only one more day to...

READ MORE

Retailers welcome west coast port contract agreement

News image

International Longshore and Warehouse Union and the Pacific Maritime Association...

READ MORE

Pure Flix appoints new chief operating officer

News image

Pure Flix Entertainment announces the appointment of Steve Fedyski as...

READ MORE

Tyndale to publish companion books for ‘A.D.’

News image

Tyndale House Publishers will partner with New York Times best-selling...

READ MORE

Inpop enjoys prosperous year, prepares for monumental 2015

News image

Inpop Records, a Nashville-based entertainment company, is coming off an...

READ MORE

Publishers flock to Family Christian Stores bankruptcy hearing

News image

This week’s bankruptcy hearing for Family Christian Stores (FCS) has...

READ MORE

Cokesbury announces new children’s curriculum

News image

Based on the award-winning Deep Blue Kids Bible, Cokesbury has...

READ MORE
100%
-
+
0
Show options

a