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17 April 2007 US retail sales rise US retail sales rose more than expected last month in a sign that consumers continue to spend despite the housing slump and high energy prices. Sales rose 0.7% in March while the Commerce Department said purchases in the previous month were also stronger than initially thought. The strongest gain in three months is likely to provide some additional encouragement to the Federal Reserve that consumer spending, which accounts for more than two-thirds of the economy, will continue to drive economic growth.
Economic Research Unit |
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