Pursuits
New Year, Same Story for U.S. Growth Driven by Consumers
- Inflation pickup boosts bets on Fed hike, eats into wallets
- Factory output expands for fourth time in five months
U.S. Retail Sales Top Expectations With 0.4% Gain
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Busy storefronts and an inflation pickup show the world’s largest economy is starting 2017 much the same way it ended 2016: driven by the consumer.
Retail sales rose more than forecast in January in a broad-based advance, and consumer prices climbed by the most in almost four years, government figures showed Wednesday. Compared with a year earlier, purchases climbed by the most since March 2012. Even factory output increased for the fourth time in five months, the Federal Reserve reported.