Despite the government insisting that all is OK, Walmart's report of falling retail sales confirms the hurt being felt due to high oil prices. Falling retail sales will feed through to commodities down the track, so the boom will falter. Interest rates will also go on hold as demand decreases. As for the markets, what sectors are still safe? Perhaps the utilities will come back into fashion as we all still use the basic supplies of telephone etc.
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consumer strikes back--retailers
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