Ian Shepherdson Hugely Quotations

Core sales slowed hugely at the end of the year, almost certainly as a result of the cash flow hit caused by the post-Katrina leap in energy prices. This is now over, and sales should rebound strongly in the first quarter.

A big headline drop was always in the cards after the weather-assisted surge in January, which hugely boosted retail activity.

Still, this is a hugely encouraging report, pointing clearly to a vigorous recovery.

This hugely strong report will doubtless be cited as evidence that the housing market is not slowing. However, the extremely warm January weather surely distorted these data, just as it boosted retail sales and depressed industrial production.

The improvement in the stock market is allowing the hugely favorable monetary and fiscal environment to do its work -- just as it was in the spring before the stock market melted down,