Retail sales show recession far from

WASHINGTON (Reuters) - Sales at U.S. retailers unexpectedly fell in March after two months of increases, a government report showed on Tuesday, dimming hopes the recession was close to hitting bottom.

However, Federal Reserve Chairman Ben Bernanke stayed upbeat and referenced the hopeful economic signs despite the 16-month long recession.

"This throws some cold water on the idea that we're carving out a bottom. As long as you have initial jobless claims running around 650,000 and getting revised higher week after week, I don't see a recovery," Jacob Oubina a currency strategist at Forex.com, Bedminster, New Jersey.

LEER MÁS