- Jeffrey Saut, chief investment strategist at Raymond James & Associates
U.S. month on month retail sales grew at a fastest pace in five months in February, suggesting the worlds largest economy is gaining steam even despite rising gasoline prices, said the Census Bureau on Tuesday. Total retail sales rose 1.1 per cent from January.
"The economy is moving towards a self-sustaining recovery," Jeffrey Saut, chief investment strategist at Raymond James & Associates in St. Petersburg, Florida, said.
"It's no surprise to see a pick-up in retail sales. As long as that appears to be where we're headed, I don't think the Fed is going change its stance."
"We believe that the consumer is in better shape than recent downbeat commentary from Fed Chairman Bernanke," said John Ryding and Conrad DeQuadros, analysts with RDQ Economics, in a note to clients.
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