INDUSTRY NEWS
Foreclosure Filings Up in May
June 13, 2008
Source:The Financial Times
Washington, D.C.--Retail sales increased at twice the predicted rate last month, due in part to the tax rebate checks distributed to U.S. citizens, the Financial Times said.
Total retail sales grew 1 percent in May--the largest monthly increase since November.
Sales figures for April were revised to a 0.4 percent increase from a 0.2 percent decline.
The first rebate checks--worth more than $50 billion--were distributed last month; the rest will be distributed in the coming weeks.
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