As if the wallets weren’t shut tight enough already: retail sales fell even further in January, putting a damper on related exchange traded funds (ETFs).
Anne D’Innocenzio for the Associated Press reports that retailers had their weakest January performance in almost four decades. High gas and food prices, a sagging housing market, growing credit crisis and a weakening job market are all blamed. Consumers appear to mostly be sticking to purchasing necessities, even when it came time to use their gift cards.
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