U.S. data points to strengthening domestic demand and inflation

Reuters ---- U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter. The economy's improving prospects were also underscored by other data on Wednesday showing consumer prices last month recording their biggest increase in nearly four years and manufacturing output rising steadily. The reports came a day after Federal Reserve Chair Janet Yellen appeared to put an interest rate hike next month on the table. "The U.S. economy has quite a bit of momentum as the year began," said Jennifer Lee, a senior economist at BMO Capital Markets in Toronto. "This morning's reports add a little more impetus for the Fed to move this quarter. Still not our call but it is becoming very interesting." To learn more about U.S. data pointing to strengthening domestic demand and inflation click on the picture below to read the article.