US DATA REACT: HFE says Feb retail sales data were above consensus,
a surprise since there was severe winter weather. “Auto sales dropped
2.0%, as signalled by the automakers’ numbers last week, but core sales
– we exclude food and gasoline as well as autos – rose a robust 0.8%.
Most core components rose.” However HFE says continued weakness in
consumer sentiment “suggests little scope for a sustained acceleration.”