California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

Retail sales rose for the eight straight month but saw the largest gain in four months.

The Commerce Department reported that U.S. retail sales increased for February, adjusted
for seasonal variation and holiday and trading-day differences, but not for price changes,
were $387.1 billion, an increase of 1.0 percent increased from an adjusted total of $383.398
billion in January.

Increases were seen in Motor vehicles and parts, electronics and appliances, building
material and garden supplies, food and beverage, clothing and clothing accessories,
sporting goods, hobby, book and music stores, along with general merchandise stores.

Decreases were seen in home furnishings and health and personal care.

Analysts believe that the significant growth was due in part to the increase in gas
prices. While the retail sales data was largely positive, the University of Michigan
Consumer Sentiment Index slid from 77.5 in February to 68.2 in March.  The latest
figure came in significantly below the 76.5 consensus estimate among economists.

I am Tim Johnson and this has been the California Business Minute.