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14 May 09
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Anecdotal evidence had signaled some improvement in sales in recent weeks.
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Mary Goodman has stopped most of her extraneous spending -- like meals out. She reined in her spending habits after March 1, when she was laid off from her job as an office manager at an online job posting company in Milwaukee
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Anecdotal evidence had signaled some improvement in sales in recent weeks. But "to offset the plunge in wealth, the household saving rate still needs to double from the current rate of 4 percent," Paul Dales, U.S. economist with Capital Economics in Toronto, wrote in a research note.
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April came even though car sales posted a 0.2 percent increase. Excluding autos, the drop in retail sales would have been 0.5 percent -- much worse than the
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Anecdotal evidence had signaled some improvement in sales in recent weeks. But
"to offset the plunge in wealth, the household saving rate still needs to double
from the current rate of 4 percent," Paul Dales, U.S. economist with Capital
Economics
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