Sunday, March 14, 2010
Retail Sales
Even with the awful weather, Februaries retail sales rose pleasantly, .3 percent from January. Wall Street was predicting .2 percent decline. With unemployment falling and employment hours growing incomes are growing as well which helps out the retail area. Electronics grew 3.7 percent, clothing .6 percent and building materials .5 percent.
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According to the news, the general retail sales still went up even though the weather had been awful in February. Some areas were affected by the snowstorms more than other areas, such as car selling. But both electronic consumption and manufacturing have gone up at a modest rate, which is the evidence for us to believe that the economy is doing better than 2008 and 2009. The fact that companies are continuing shedding jobs is discouraging to the public, which is the main reason that why people are unwilling to consume.
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