Wednesday, October 15, 2008

Retail sales drop

Article from the New York Times:


Retail Sales Fall 1.2% in September
By MICHAEL M. GRYNBAUM
Published: October 15, 2008

Retail sales fell sharply in September as consumers shunned department stores, auto showrooms and shopping malls, ratcheting back spending for a third consecutive month. Economic activity slowed across the country, according to a report from the Federal Reserve. And the chairman of the Fed, Ben S. Bernanke, warned in a speech that a recovery “will not happen right away.”

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