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Your daily economic wrap-up
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Published: April 15, 2009
In other economic news:
•Retail sales slip again. The Commerce Department said retail sales dipped 1.1 percent in March. It was the biggest decline in three months and a much weaker showing than the 0.3 percent increase that analysts expected. A big drop in auto sales led the overall slump in demand. Auto sales in March were 23.5 percent below year-ago levels. Sales also plunged at clothing stores, appliance outlets and furniture stores.
•Wholesale prices drop. Meanwhile, the Labor Department reported that wholesale prices plunged 1.2 percent in March as the cost of gasoline, other energy products and food fell sharply. Gas prices fell 13.1 percent, the steepest drop since December, while food costs dipped 0.7 percent. Excluding volatile food and energy prices, the Producer Price Index was unchanged, below analysts' forecasts of a 0.1 percent rise.
The Associated Press
In other economic news:
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