Retail sales rebound signals thaw in economic activity

April 14, 2015 4:58 PM

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Retail sales rebound signals thaw in economic activity

WASHINGTON (Reuters) - Retail sales rose in March for the first time since November as consumers stepped up purchases of automobiles and other goods, suggesting a sharp slowdown in economic growth in the first quarter was temporary.

The Commerce Department's fairly sturdy report on Tuesday together with other data showing that producer inflation crept up last month should keep the Federal Reserve on track to start raising interest rates later this year.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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