The retail sales numbers for February were very strong even with the impact of the blizzards which hit much of the country, notes ITG’s Chief Economist, Bob Barbera. He now expects 1Q10 consumer spending growth of 4%. He also notes that consumer debt levels continue to drop, a macroeconomic silver lining to the spike of home foreclosures. He believes the combination of higher spending and lower debt could push real GDP higher than his above-consensus forecast of 3.8% annualized growth during the first half of 2010.