Retail Sales Fall as Consumers Spend Less
The retail industry sales on March dropped 1.1 percent more than the predicted level causing its stock shares to finished lower on Tuesday.
However, major retail companies expressed hopes saying that the economic recession has been losing impact on the industry giving it a more optimistic outlook on its long-term economic prospects.
The retail industry sales on March dropped 1.1 percent more than the predicted level causing its stock shares to finished lower on Tuesday. However, major retail companies expressed hopes saying that the economic recession has been losing impact on the industry giving it a more optimistic outlook on its long-term economic prospects.
"The sales last March dropped and reversed almost half of the steady January gains, hence, cutting away the good news for the first quarter that would have benefited the consumers," Action Economics said in a news briefing.
US retail companies analysts said that recent figures logged by the auto, housing, and consumer spending firms showed that the 16-month old recession is actually slowing down to a halt.
This claims were backed by US President Barack Obama, however, he warned that the worst has yet to come as the American-government is “running out of wood” to fuel the economic turn-around.
Earlier, companies such as Goldman Sachs, Dendreon, Johnson & Johnson, and MetLife said that the economy has now reached the pivotal point as the industry and other major players in the stock market has improved the overall survival funds in the wake of the worst economic slump since the great depression.
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