Best S&P 500 Sales Since ’12 Show Economy Spurs Market

Standard & Poor’s 500 Index companies are exceeding analyst sales forecasts by the most since 2012, a sign rising consumer demand is fueling economic growth as the bull market approaches its sixth year.

Led by banks, utilities and drugmakers, sales beat analyst predictions by 1.2 percent this earnings season, the highest margin in almost two years, according to data compiled by Bloomberg. The performance came as economists raised their estimate for GDP expansion to 2.9 percent in 2014, up from 2.6 percent at the start of the year, even after snowstorms helped lead to lower-than-projected data on retail sales and payrolls.