Posted On: August 14, 2012
From The Telegraph:
Retail sales rose 0.8 percent last month, the Commerce Department said on Tuesday. A separate report showed US producer prices climbing in July at the fastest pace in five months, although falling energy prices pointed to muted inflation pressures, Reuters reports.
The gain in retail sales was the largest since February and well above analysts' expectations. Economists polled by Reuters had expected retail sales to rise 0.3pc. The report bolsters the view that the slowdown in economic growth during the second quarter will prove temporary.
"It's a welcome sign for the economy," said Joe Manimbo, a market analyst at Western Union Business Solutions in Washington.
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Category: Media Coverage
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