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Retail sales increase may be a 'fluke'
2/12/2009 12:00:00 AM

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New government statistics show that retail sales increased one percent last month, providing some rare good news for the economy.

A Reuters report noted that this was the first increase for retail in seven months, and the biggest overall gain since November of 2007. The one percent figure was actually somewhat higher than the 0.8 percent increase that was reportedly expected by economists.

Still, observers are skeptical that a recovery is on the horizon.

"Given all the other contrary information about consumer spending and jobs, this looks to me more like a fluke or an unsustainable recovery. It's a one-month wonder," Stuart Hoffman of PNC Financial Group told the wire service.

With other recent government figures showing considerable weakness in the economy, especially when it comes to unemployment, many consumers are likely to continue to focus more on paying down debt and budgeting than on making significant new purchases.

For consumers who do stick to their financial plans to become more debt-free, pay day loans can be one way to manage your money and make your payments on time.
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