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TwitterAdding on to the happy numbers released yesterday by RealtyTrac Inc, reports released by the Commerce Department, claim that the retail sales posted a gain of 0.3% last month. December’s result was adjusted downwards to 0.1% growth from 0.5%.
Economists surveyed by Dow Jones Newswires had forecast a 0.3% decrease. Infact, prior to the results, economists painted a sorry picture for the results. Ellen Zentner from BTMU said “Blame Toyota, but mostly blame the weather because we expect a -3.3% decline in motor vehicle sales in February and that’s going to be the biggest drag on overall retail sales, but weather also depressed other areas of spending as snowstorms and all-around nasty weather hit the country over and over again throughout the month.” However, excluding the car sector, all other retail sales rose 0.8%.
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Intel Corp has released its financial figures for the July-September quarter posting a 7.8 % decline in profits. Despite sales turning southwards the organization beat the Wall Street’s forecast. That is not the only upside here though, Paul Otellini, Intel CEO has said that its gross profit margins for the final quarter are expected to be 62 percent of revenue, with a possible variation of about three percent in either direction. That translates to sales figures in the range of $9.7 billion to $10.5 billion.