NRF: Shovel snow, then decide how retail sales are progressing


The National Retail Federation's delivers a mixed read on the January Retail Sales. The group notes that although severe winter weather was a major factor in the flat seasonally-adjusted growth rate, the high level of jobless claims and slow consumer spending trends suggest larger macroeconomic issues are also in play.

"No one can jump to any solid conclusion until we shovel out of the snow," concludes the NRF.

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