Higher Gas Prices Lift Retail Sales

March 12, 2012  by in UnCategorized   

By Aggregated Content in economic news on March 13, 2012 from http://money.cnn.com/2012/03/13/news/economy/retail-sales/index.htm?section=money_topstories Consumers were spending more in February, but a big part of the rise was caused by rising gas prices. Overall retail spending rose 1.1% in February compared to the month before, according to Tuesday's Commerce Department report. But spending at gas stations jumped 3.3% in the month, as gas prices rose almost continually throughout the period. Stripping out spending on gasoline prices, retail spending posted only a 0.8% rise in the period. There were other signs of strength in the spending report. Spending at auto dealers rose by 1.9%, as automakers reported the . And

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