US Retail Sales to rebound 2.2% MoM in January – Scotiabank

Analysts at Scotiabank offer a sneak peek at what they expect from Wednesday’s United States Retail Sales data.

Key quotes

“Looking for a headline +2.2%.”

“The US consumer’s fundamentals remain sound.”

“Job markets are very tight, wage gains are decent, the debt-to-income ratio is at a twenty-two year low, debt payments as a share of incomes are toward record lows, cash balances are very high after socking away pandemic stimulus and Americans have a one-way option to refi in a falling rate environment that locked in pandemic lows for 30-year mortgages.”