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Retail sales rebound in March

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“Core” retail sales increase 0.3%.

Retail sales increased 0.9% in March, according to data released by the Commerce Department today. This follows a 0.5% revised decrease in February, and ends a three-month decline for the nation’s retailers.  The increase in March was slightly below analysts’ expectation for a 1.0% rise.

Sales excluding autos, gasoline, building materials and food services, so-called “core retail sales,” increased 0.3%, compared to a revised 0.2% increase in February.

Analysts had expected a 0.5% increase in core retail sales.

The results, while slightly under expectations, provided support to the view that the recent sluggishness of the US economy may be short-lived and attributable to temporary factors such as the harsh weather this past winter.

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