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Jefferies economist Tom Simons on.....>

US DATA REACT
US DATA REACT: Jefferies economist Tom Simons on the weaker than expected retail
sales data, "ex-autos, the data was weaker than expectations, as the consensus
call was for a 0.5% increase. Expectations on the control group sales were for a
rise of 0.4%, so control group sales were also weaker than expected."  Simons
said "consumer spending remains inconsistent.  What had looked like a tremendous
finish to Q4 is now somewhat less encouraging and the start of Q1 is pretty slow
as well. Coupled with the stronger than expected CPI number this morning, the
data suggests that real PCE growth slowed substantially into Q1."

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