Click to enlarge. Data via Calculated Risk.
The small rise is good news, but the above data-image shows the trend is still downward. The 1 percent rise is barely perceptible. Still, could it represent a shifting trend? The great blog at Calculated Risk argues no.
One month does not make a trend change, and January retail sales are still over 2% below sales in Q4 - suggesting a further decline in Q1 PCE.