For a Goldilocks economy, the weather needs to be just right…
Sorry if it is a bit confusing, but I’m not sure whether it was too hot or too cold in February and March. Seems to be a conflict. Hmmmm.
Jan. 30 (Bloomberg) — U.S. retailers’ sales rose 4.9 percent last week compared with the same period a year earlier as colder weather helped lift sales of gloves and scarves, the International Council of Shopping Centers said.
March 8 (Bloomberg) — The coldest February since 1979 caused U.S. retailers’ sales to grow at the slowest pace in three months as consumers delayed purchases of spring merchandise.
March 23 (Bloomberg) — Sales of previously owned homes in the U.S. unexpectedly surged last month by the most in three years, a sign that the housing market is probably past the worst of its slump.
Warm Weather
Last month’s jump in sales partially reflects the closing of contracts signed in December, when unseasonably warm weather brought out more house hunters, David Lereah, the Realtors’ chief economist, said at a briefing in Washington.
April 16 (Bloomberg) — Retail sales in the U.S. rose in March by the most in three months as rising incomes and better weather ensured consumers would continue to drive economic growth.
April 24 (Bloomberg) — Sales of previously owned homes in the U.S. declined more than forecast in March to the lowest level in almost four years, delaying housing’s recovery from a slump that’s shown some signs of reaching bottom.
The decline in sales, while partly weather related, may renew concern that the housing recession will linger and put at risk the Federal Reserve’s forecast for moderate economic growth.
May 8 (Bloomberg) — U.S. retailers’ sales probably fell for the first time in four years last month as an earlier Easter and the coldest April in a decade discouraged purchases of lightweight clothing, gifts and garden equipment.
