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February 14, 2008
January Retail Sales Outshine Expectations
January retail sales were better than expected, according to figures released by the U.S. Commerce Department this week. Sales at apparel and accessory stores grew 1.4% from December. This compared to a 0.1% drop in January of last year.
Department stores fared worse, reporting a 1.1% decline from December. However, this figure was still better than the 4.8% slide posted a year ago.
Economists predict that first quarter sales will continue to be tough but that the market will pick up in the second half of this year.
Posted by Blacks on February 14, 2008 09:59 AM
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