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Unformatted text preview: Articulo 1 WASHINGTON .- Retail sales fell in March as job losses and difficulties in accessing credit became more cautious U.S. consumers by moderating the hopes of a speedy economic recovery. After a slight improvement this year compared to late last year, retail sales fell 1.1% in March from the previous month, announced Tuesday the Commerce Department. Although the credit problems hit car sales particularly strong, declines were recorded in most major categories, from appliances to furniture and clothing. Total retail sales fell 11% over March last year. The main message is that consumer spending, which accounts for 70% of U.S. economic activity will probably not rebound quickly. Consumers affected by the weak labor market and the steep decline of property, remain cautious. The retail sales report injected a dose of realism after weeks marked by hope that the recession was close to hitting bottom. The Federal Reserve chairman, Ben Bernanke, described in a speech yesterday to the recent reports of sales and housing construction, consumer spending, including sales of new vehicles, as "tentative signs that the...
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This note was uploaded on 01/10/2010 for the course 12321 1231234 taught by Professor Smalls during the Spring '09 term at American University of Science & Tech.
- Spring '09