Tuesday, 17 April 2012
Good news for US economy.
TRANSCRIPT: Retailers got a pleasant surprise from the American consumer in March. Total retail sales rose 0.8 percent last month, which far exceeded economists forecasts, and that follows up a slightly downwardly revised 1.0 percent gain in February. The rise defied expectations of a slowdown in spending caused by higher gasoline prices. Some economists note those higher gasoline costs were offset by lower home-heating bills due to unusually warmer temperatures. A stronger consumer is a positive indicator of economic growth, which gets two-thirds of its strength from shopping activity. Therefore, economists are fine-tuning expectations as the data suggest the economy may not have slowed down as much as feared in the opening months of the year.
1) What was the pleasant surprise mentioned in the report?
2) What does this suggest, "which far exceeded economists forecasts" ?
3) Why did economists expect a slowdown in spending?
4) Why were unusually warmer temperatures good news for the economy?
5) Why is a strong consumer a positive indicator of economic growth?
6) What does the last sentence suggest?