Retail sales data heighten US recession fears

By Joshuah at 13 March, 2008, 12:23 pm

From the Financial Times

Recession fears continued to grip the US on Thursday as retail sales data for February showed an unexpected decline, providing evidence that consumers have pulled back significantly.

According to the Commerce Department, retail sales last month fell by 0.6 per cent, led by a drop in car and restaurant purchases, while most economists were predicting a slight rise.

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