Retail Sales Rise in March

April 24, 2012

The Commerce Department reported better than expected retail sales on Monday, saying sales increase 0.8 percent, more than the 0.3 percent analysts were expecting.This gives optimism to investors who have been discouraged due to higher unemployment claims and fewer jobs added in March. The report also shows the economy grew at an annual rate of 3.0 percent in the fourth quarter and growth in the January to March period was at a rate of 2.5 percent.This could also prompt analysts to raise their forecasts for first quarter consumer spending which is a main driver of the economy.