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14 February 2008
US retailers enjoy shock sales rise
Retail sales in the US rose by 0.3 per cent in January, following a 0.4 decrease in December, new figures have shown.
Analysts had predicted that sales could fall by 0.2 per cent over the month and, despite the rise, interest rates in the country could still be cut further.
Omer Eisner, of Reush International, revealed that the surprise figures may ease US fears of a recession.
"The data is clearly a surprise to the upside. I don't think it changes the outlook for further rate cuts. But in the near term, it does ease some recession concerns."
The rise is sales could be good news for wholesalers and exporters, with the increase in consumer activity allowing retailers to increase their stock orders.
Meanwhile, figures released by the British Retail Consortium, revealed a 2.6 per cent increase in like-for-like sales domestically.
The figures are though to have been driven by increased activity during the January sales.
(c) 2008 Adfero Ltd.
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