Leslie Preston Quotations

Retail sales look to start off the year with a bang.

A solid increase in January sets the stage for a quarter where real consumer spending is expected to grew at a greater than 5% pace.

A strong payrolls gain was largely telegraphed by the jobless claims decline and shouldn't be a big shock to markets if wages aren't too threatening. Wages are advancing a fairly tame pace.

According to chain store reports non-auto retailers seemed to have fared much better in January than during the holiday season.

For 2006 as a whole, the first quarter should prove a one-hit wonder, as higher debt payments, energy costs and slowing housing prices take their toll.