Retail Sales Up 1% – Economic Upswing

There are some signs of Economic recovery already.   Good news for retailers.  The Bloomberg Press reports retail sales are up 1% in January.

"Feb. 12 (Bloomberg) — Sales at U.S. retailers unexpectedly halted a record six-month slide in January, an advance that may not be sustained as job losses climb.

The 1 percent increase followed a 3 percent drop the prior month, the Commerce Department said today in Washington. Excluding cars, the gain was 0.9 percent. Last month rise reflected higher gasoline prices and more spending on items including clothing and food.

There were enough post-holiday sales to lure people into the stores; the question is whether that is sustainable — and the answer is, obviously not, said Tom Porcelli, a senior economist at Castlestone Management Ltd. In New York. A collapsing job market means spending will deteriorate further, he said. "

Read the rest of the Article:

Let’s keep our fingers crossed.

CCS Sales.

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