Retail sales post strongest gains since late 2007
Going shopping: Retail sales post strongest gains since before recession started
ANNE D'INNOCENZIOAP News
Mar 04, 2010 17:28 EST
Shoppers returned to the nation's malls last month, buying a surprising amount of spring clothing and other items and helping stores post the strongest retail sales since November 2007, a month before the recession began.
The better-than-expected 3.7 percent gain reported Thursday showed that Americans are still thrifty, but they are letting go of some of the frugality brought on by the economic downturn. And many are willing to spend for certain higher-end goods.
Consumers "are now starting to go back to where they had typically shopped" before the recession, said Michael Niemira, chief economist at the International Council of Shopping Centers, who expected a 2 percent gain. "I'm surprised by the broad strength."
http://www.talkingpointsmemo.com/news/2010/03/retail_sales_post_strongest_gains_since_late_2007.php?ref=fpc
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