Retail sales in the US rose unexpectedly in February, creating new hopes that the economic recovery is happening.

It is worth mentioning that the rise has happened despite heavy snow storms during the period, which had created doubts in the minds of the retailers as well as the policy makers.

As per the data given by the Commerce Department, the sales figures rose by 0.3 per cent, which covered an array of products. It includes the necessary goods as well as the luxury products.

This is unlike what the experts had expected. They predicted that the sales would go down by 0.2 per cent.

However, the optimistic view was dampened a bit because of the fact that there has been an observable dip in consumer confidence in March. The unemployment rate is still very high and even though the figures are suggestive of growth; the fact is that the reality is not as rosy as it seems.

And looking at the current situation one can expect that the interest will not be changed. The officials of Federal Reserves are going to meet on Tuesday and are expected to keep the overnight rates in the range of 0-0.25 per cent.