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US RETAIL SALES STRONG IN FEBRUARY

  • NEWS Desk Global
  • 19 hours ago
  • 1 min read

U.S. retail sales increased by the most in seven months in February as motor vehicle purchases rebounded and temperatures warmed up, but surging gasoline prices because of war in the Middle East were expected to crimp spending in the months ahead.

The Commerce Department's delayed report on Wednesday suggested that the economy ​was on solid footing before the U.S.-Israeli war with Iran. The conflict, which started at the end of February, has sent global oil prices surging more than 50%, and the national average retail gasoline price this ‌week topped $4 a gallon for the first time in more than three years.

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