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US retail sales rebound in March

by ChemOrbis Editorial Team -
  • 14/04/2015 (17:05)
According to a report released by the US Commerce Department, the country’s retail sales rebounded in March after falling for a third consecutive month in February. The country’s retail sales improved 0.9%, posting the strongest increase in a year. However, retail sales grew at a slightly slower pace than expected as economist’ initial estimates called for an increase of 1% in a survey conducted by Reuters.

Automobile sales increased 2.7% to post the largest increase since March 2014 while sales at clothing stores rose 1.2% in March. Sales for building materials and garden equipment posted their biggest gain since July 2013 with an increase of 2.1%. However, sales for electronics and appliances declined.

Analysts commented that the upturn in US retail sales may offset fears of sustained weakness stemming from consecutive declines in the preceding months.
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