NEW YORK (Dow Jones)--U.S. chain store sales fell 1.2% in the first week of February compared with January, according to Redbook Research's latest indicator of national retail sales released Tuesday.
The decline in the index was slightly worse than the 1.1% drop targeted.
February is a four-week month that ends on March 1, Redbook said.
Seasonally-adjusted sales in the first week of February were up 0.6% from February last year, compared with a revised 0.7% target gain.
Redbook said on an unadjusted basis, sales in the week ended Feb. 9 were up 0.6% from the same week a year ago following a 0.2% gain in the prior week.
"Most retailers were running below their February plans by the end of the first week. Certain retailers noted that the televised coverage of Super Bowl Sunday and the 'Super Tuesday' presidential primaries diverted consumers' attention in addition to severe tornadoes and storms that ripped across southern states disrupting many homes and businesses," the report said.
UPDATE: German Feb ZEW Econ Sentiment Unexpectedly Rises
The ZEW think tank's economic expectations index increased to -39.5 points from -41.6 points in January - above economists' forecasts of -45.0 points.
The last time the index was significantly below those levels was in January 1993, when it stood at -49.7 points.
"The positive development of the economic sentiment for Germany signals that the current crisis isn't expected to trigger a downward spiral for the German economy. The expectations rather indicate a cautious recovery by mid-year," ZEW said.
German government bonds, or bunds, slipped on the news, with the March bund contract down 0.18 at 117.27, from around 117.36 prior to the numbers. European stocks kept their slightly positive tilt.
The ZEW survey participants assessed current economic conditions as significantly less favorable. The corresponding indicator fell to 33.7 points in February from 56.6 points in January - the lowest level since August 2006, when the index stood at 33.6 points.
"Banks are currently in the doldrums, but the financial experts expect that the worst will be over in six months. This should ease concerns about the development of the German economy," said ZEW President Wolfgang Franz.
The European Central Bank has acknowledged downside risks to economic activity in the 15-nation euro zone. ECB President Jean-Claude Trichet Thursday warned that there is "unusually high uncertainty" and dropped his previous references to the euro-zone economy growing "broadly in line with trend potential" in 2008.
Financial market participants took this as an indication that interest rates won't rise this year. Most private sector economists now expect a cut during 2008, and Tuesday's ZEW survey of sentiment in Europe's biggest economy is unlikely to change this view.
UK CPI rises 2.2% on the year in January on petrol prices
Consumer inflation has increased 2.2% in January from the same month last year, while it fell 0.7% on the month. The year-on-year increase has been influenced, mainly, by the rise on fuel prices, excluding food and energy, CPI has risen 1.3% on the year.
Retail prices have risen 4.1% ion the year in January, up from a 4.0% increase posted in December, influenced by the same factors than the CPI.
Japan December industrial machinery orders dip 1.5 percent - JSIM survey
TOKYO (Thomson Financial) - Orders for industrial machinery placed with Japanese companies slipped 1.5 percent to 523.7 billion yen in December from a year before, according to the results of a survey conducted by the Japan Society of Industrial Machinery Manufacturers (JSIM) released Tuesday.
In November orders were down 15.2 percent.
The survey was conducted among 191 JSIM member companies including manufacturers of boilers and turbines, chemical machinery, plastic processing machinery, carrying implements and metal processing machinery.
Orders from the domestic market reached 306.4 billion yen in December, down 7.5 percent
from a year earlier, while orders from abroad rose 8.4 percent to 217.3 billion yen.
For 2007, orders for industrial machinery placed with Japanese companies increased 8.2 percent to 6.512 trillion yen, rising for the third straight year. It was the first time in 10 years that the amount surpassed 6.5 trillion yen, with orders from both the domestic market and from overseas up for the third consecutive year.
(1 US dollar = 106.90 yen)
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