Retail Sales Dampen Fear of Recession

By February 13, 2008Economy

We recently groused about the media always reading recession into every story featuring bad economic data, but never writing that good economic data — and there are some — eased the fears of recession.

Well, today reporters added that context. Good for them.

From Bloomberg: “Feb. 13 (Bloomberg) — The dollar strengthened against the euro and yen after a report showed retail sales unexpectedly rose last month. …Traders bought the dollar as the data cooled speculation a housing slump will push the economy into a recession.”

From The Wall Street Journal: “U.S. retail sales unexpectedly climbed 0.3% in January, given a boost by demand for cars and gasoline in a positive sign for the economy. Excluding the gas and auto sectors, demand at other retailers last month was unchanged.”

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