Opposite to analysts’ predictions, retail sales rose this month. Sales rose 1.7 percent at stores that had been open at least a year, even though they were expected to decline 0.7 percent.
More than a half-million jobs have been created in the past four months, and job openings in February jumped by the most in six years, according to a report by the Labor Department.
This job creation has been improving stock markets and reinstalling confidence in the consumer.
“I mean it’s pretty obvious that once people have steady jobs, they’ll start spending their money again. I also think enough time has passed since the recession first hit that people are tired of being scared of it happening again,” said freshman Julie Golden. Because unemployment has gone down a little, people have begun shopping again. Costco’s sales jumped 13 percent, as opposed to the 7.4 percent increase expected by
analysts.
Victoria’s Secret said its total same-store sales rose 14 percent. Analysts were expecting a 1.5 percent increase.
However, retailers who issue monthly figures of sales account for only 10 percent of total U.S. retail sales, Customer Growth Partners President Craig Johnson told Reuters. Wal-Mart, Home Depot, and Best Buy don’t give monthly tallies.
“It doesn’t matter how many stores have increased, just the fact that some are increasing is a good sign. Like, if you play on a sports team and one person scores a goal but you still lose, it’s still a good thing that one kid scored a goal,” said sophomore Nicole Heylmun.