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U.S. retail sales inch up 0.1% in April
Retail spending in the U.S. grew a meager 0.1% in April after sharp gains in the first three months of the year, the government reported Tuesday. Sales excluding the auto sector also rose 0.1% last month, the Commerce Department said. Economists surveyed by MarketWatch expected both retail-sales figured to be unchanged. The sales increase in March was revised down to 0.7% from 0.8% and the increase in February was revised down to 1.0% from 1.1%. Purchases by consumers account for as much as 70% of U.S. growth, so the slowdown in spending suggests the economy may be slowing, at least temporarily. Most economists ... (full story)
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