The United States Commerce Department reported that retail sales rose .8 percent in the first quarter of 2012, despite higher gas prices and small wage increases.
The total retail sales for the quarter were 24 percent higher than the recession low in 2009. New hiring in March 2012 slowed to half the pace of February 2012. The housing market has struggled in the past several months, and builders have expressed less confidence in sales over the next six months. These factors could restrain the continued increase in retail sales during the remainder of 2012.
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