HomeLoan123

Retail Sales Dive

Friday, Feb 15, 2019 By HomeLoan123.

Weaker than expected retail sales data was offset by progress on a government funding agreement this week, and mortgage rates ended nearly unchanged.

Consumer spending accounts for about 70% of all economic activity in the U.S., so the retail sales data is a key indicator of growth. The report for the important holiday shopping period was delayed by the government shutdown, but it finally was released on Thursday, and it was very disappointing. Since weaker growth reduces …