The U.S. reported stronger than expected retail sales last week, proving the country still has signs of life post-QE2.
And as we're seeing from retail figures this week, people focus their spending power more on what they need, starting with food.
Figures released by the British Retail Consortium earlier this week suggested that food and drink was the only category in which UK retail sales rose in August from the previous month.
During Christmas week all retail surveys I read became pessimistic about holiday sales this year.
But this week, retail sales posted marginal declines of 0.4% month over month.
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It covers about half of all residential retail mortgage originations each week.
Economic news for next week includes retail sales and inflation data.
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In the U.S., next week brings retail sales data and Nomura analysts said they expect the figures to beat the consensus estimate, which is for a rise of 1.1%.
Some key data due to be released this week includes retail sales on Tuesday, industrial production on Wednesday, initial claims on Thursday, and the consumer price index on Friday.
Washington Mutual cited its strong retail base in this week's statement about capital and liquidity, but the company isn't saying anything more until it releases its quarterly earnings next week.
According to the Confederation of British Industry, which lobbied for a rate cut this week, retail sales fell in the year to June at the steepest rate in its survey's 22-year history.
Last week, UK retail sales figures showed an unexpectedly large drop of 0.6% for January.
Retail sales were strong last week, and the Leading Economic Indicators (LEI) jumped sharply.
There is a full economic calendar this week, with retail sales, the Empire State Manufacturing Survey, and business inventories out on Monday.
The BRC report comes after official figures released last week showed that retail sales grew only slightly in July, up 0.2% from June.
Data released earlier this week showed the retail sales in Australia fell 0.8% in July from the previous month, the biggest drop in two years.
Up 32% over 12 months, AutoNation, Inc. reported this week that its retail new vehicle unit sales total in April 2013 was up by 10% as compared to April 2012.
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Video game retail sales figures released last week by NPD Group put Ocarina of Time 3D in fifth place overall for the month, and mark it as the bestselling handheld-only title.
The Commerce Department reported this week that October retail sales rose 1.2 percent, well ahead of the 0.7 percent that many experts had forecast and indicating that American consumers are ready to deploy cash again.
And earlier this week the British Retail Consortium's survey showed an increase of over 15% in the cost of retail crime alongside a drop in the proportion of crime reported by retailers to the police from 48% to 16%.
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Flows into Japan-focused funds during the week ending Feb. 6 hit a 34 week high and retail commitments climbed to levels last seen in the second quarter of 2006, making it the most popular destination in terms of demand.
Crowds started forming earlier this week outside an Apple retail store in New York as eager customers waited to be among the first to get the new smartphone.
Equity mutual fund inflows tracked by Cambridge, Mass based EPFR Global hit a five-year high during the first full week of January as retail commitments hit their highest level since 2009.
However, it does not help that the UK economy is already in a fragile state, underlined by last week's weak retail sales data for December and the collapse into administration of HMV.
Retail activity was the most active all week as investors get comfortable with lower yields.
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The first widely watched economic report this week comes on Wednesday with retail sales.
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Retail sales for the just-completed week will be reported on Tuesday.
National Retail Federation Annual Convention kicked off this week, too.
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