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Wednesday, March 24, 2010

Retail Sales Results Are Strongest of this Recovery Thus Far

On Tuesday Redbook reports indicated the strongest retail results of the recovery thus far. The results posted a plus 3.6% year-on-year same-store sales rate in the March 20 week. That rate was right in line with the ICSC-Goldman's 3.7% rate also reported on Tuesday.

Redbook also offers a month-to-month comparison which is also at a solid plus 0.9% gain. (That's an annualized 10.8% bump).

The report showed particular strength across women's apparel and for lawn and garden equipment; items that sparked little to no interest with consumers a year ago.

With retail sales making up 70% of annualized GDP growth, Q1 2010 GDP results are shaping up to be even stronger than Q4 2009.

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