Is the economic recovery gaining strength?

Apr 19 2010 After some rather weak months of numbers following the recession, the news about retail spending increasing quite drastically in the month of February came as a pleasant surprise. However, the joy was short lived as March again showed a drop in consumer sentiment from 73.6 to 72.5 contrary to the expectations of economists who thought the good number of February would continue in March as well.
The consumer sentiment data has been on a roller coaster ride after seeing a rock bottom index of 55.3 in the month of November 2008 following a series of bad news regarding financial institutions winding up or collapsing. Though this figure of 72.5 is still a preliminary one, the hopes are not very bright of a dramatic recovery.
The Commerce ministry was upbeat about the retail sales showing good traction in the month of February with an increase of 3.9 per cent over the previous year. Considering that this was the fourth time in the last five months that this figure showed a positive trend and given the rather severe winter conditions in many parts, hopes were rekindled about the economic recovery gaining speed.

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