This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7294252.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| US sees big fall in retail sales | US sees big fall in retail sales |
| (about 2 hours later) | |
| Retail sales in the US fell by an unexpectedly large amount in February, the latest sign that the world's largest economy may be in trouble. | Retail sales in the US fell by an unexpectedly large amount in February, the latest sign that the world's largest economy may be in trouble. |
| Retail sales fell by 0.6% last month compared with January, according to figures from the Commerce Department. | Retail sales fell by 0.6% last month compared with January, according to figures from the Commerce Department. |
| The data followed a 0.4% gain in January and a 0.7% fall in December as shops suffered a slow Christmas season. | The data followed a 0.4% gain in January and a 0.7% fall in December as shops suffered a slow Christmas season. |
| Consumer spending is closely watched in the US because it accounts for about two-thirds of total economic activity. | Consumer spending is closely watched in the US because it accounts for about two-thirds of total economic activity. |
| "The slowdown that we know is happening in the banks has manifested itself on Main Street," said Joe Francomano from Erste Bank in New York. | "The slowdown that we know is happening in the banks has manifested itself on Main Street," said Joe Francomano from Erste Bank in New York. |
| "These economic numbers are going to get much worse and after the retail sales number, we saw the dollar trade lower," he added. | "These economic numbers are going to get much worse and after the retail sales number, we saw the dollar trade lower," he added. |
| Analysts had been expecting a rise of 0.2% in retail sales. | Analysts had been expecting a rise of 0.2% in retail sales. |
| There was some slightly better news from the Labor Department, which reported that the number of laid-off workers filing applications for unemployment benefits was unchanged in the last week at 353,000. | There was some slightly better news from the Labor Department, which reported that the number of laid-off workers filing applications for unemployment benefits was unchanged in the last week at 353,000. |
| Separate Commerce Department data on Thursday showed an unexpected rise in inventories held by firms at the start of the year, as they failed to shift stock. | |
| Inventories held by businesses rose by 0.8% in January, the most in nearly two years and more than the expected 0.5% rise. |