Tuesday, 17 April 2012

US retail sales rise

Consumer spending helped to keep the US economy growing in March. The Commerce Department reporting on Monday that retail sales rose 0.8 percent last month following a 1.0 percent increase in February. Retail sales excluding autos also increased 0.8 percent.

However, other data released on Monday were not as strong.

The Federal Reserve Bank of New York’s general economic index fell sharply to 6.6 this month from 20.2 in March.

The National Association of Home Builders/Wells Fargo home market index fell to 25 this month from 28 in March.

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