Weak U.S. Retail Sales Highlight Risks To Economic Outlook

[Purveyor]

U.S. retail sales fell less than expected in February, but a sharp downward revision to January's data could reignite concerns about the economy's growth prospects.

Tuesday's weak report from the Commerce Department bucked the trend of recent labor market data that had suggested the economy remained on solid ground despite some fears of a looming recession.

The data could give the Federal Reserve more reason to keep interest rates unchanged on Wednesday, when it is due to release its latest policy statement.

"The economy's engines are not going into reverse ... but at the moment, it is hard to see GDP with a 2 percent handle. Based on today's lackluster sales report, policymakers will be in no hurry to raise interest rates," said Chris Rupkey, chief economist at MUFG Union Bank in New York.

Retail sales dipped 0.1 percent last month as automobile purchases fell and cheaper gasoline undercut receipts at service stations. January's retail sales were revised down to show a 0.4 percent drop instead of the 0.2 percent gain previously reported.

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http://in.reuters.com/article/us-usa-economy-idINKCN0WH1JQ

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1. Maybe if more people had Living Wage Jobs, the economy would be better?

We are still shipping our jobs overseas and importing H1b for those we can't. Why?
And some people wonder why our economy is still so sluggish.

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2. Consumerism is dying a slow death and we are all here to watch it

Get use to this kind of news folks. There's no saving us now.