Thursday, February 12, 2009

U.S. retail sales rebound, new jobless claims slip

Sales at U.S. retailers rebounded in January, government data showed on Thursday, likely boosted by post-holiday discounts and providing a rare glimmer of hope for the recession-hit economy.But the upward trend in sales could prove unsustainable as companies, reeling from a year-long recession continue to layoff workers in large numbers.The Commerce Department said total retail sales rose 1 percent, advancing for the first time in seven months, after slumping by a revised 3 percent in December.

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