Retail Sales/ Consumer Credit/ Housing Prices/ Indices/ Small Business Outlook
Valentine’s Day brought a disappointing Retail Sales report from the US Census Bureau, with a notable miss in the Control Group—1.1% below expectations. This metric feeds into key macro indices, and its impact was quickly reflected in the Atlanta Fed’s GDP Now estimate, which was revised down from +2.9% to +2.3% for Q1. With half the quarter still ahead, this adjustment is worth watching.