business news in context, analysis with attitude

The US Department of Commerce reports that retail sales rose 1.2 percent during December, to a seasonally adjusted $307.97 billion. Excluding autos and parts, sales were flat, according to the department.

Overall retail sales during 2002 advanced 3.4 percent, the smallest annual gain since 1993.
KC's View:
With all due respect to the Secretary of Commerce, that doesn’t sound like a 15-month old recovery to us…