By Kevin Allison
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
There's a real question right now about whether the sharp decline in oil prices will continue to have a 'rising tide' effect on the rest of the economy, thanks to the help it gives to consumer spending, or whether that marginal benefit is offset by a drop in oil production and mining jobs.
The housing-market recovery, the improvement in the unemployment rate and the relatively strong consumer sentiment figures seen out of the United States in recent months bodes well for Home Depot and other big-ticket retailers (like Lowe’s, for instance) as they report this quarter’s earnings.