Consumers Kept Shopping in January
Retail sales rose by a surprisingly strong 0.3 percent last month
Posted February 13, 2008
The U.S. economy got a bit of good news Wednesday when the Commerce Department reported that retail sales rose by 0.3 percent in January. American shoppers have been amazingly resilient despite high energy prices, a weak jobs market, and the ongoing housing crisis. This increase shows a bit of comeback by consumers after a weak Christmas season. Sales had decreased by 0.4 percent in December.
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