Retail Sales for January 2009 UP 1 Percent...
Retail sales for January were up 1 percent from December 2008. This reverses 6 months of monthly declines in sales. Even automobile sales increased 1.6% in January.
However, last months sales were almost 10% lower than January 2008. We'll see what happens over the next few months... The average duration for a recession is 16 months, and this is worse than most. This recession started in December 2007, so we are13 months into it......
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