Consumer spending could be stabilizingPosted on
U.S. retail sales, excluding automobiles, rose in the first two months of 2009.
According to the Financial Post, the increase suggests U. S. consumer spending — the main driver of the economy for years — may be stabilizing.
“The latest retail sales report is an important one, for it increases the probability that this recession is starting to wind down,” Bernard Baumohl, chief global economist with the Economic Outlook Group, told the newspaper.
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