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Retail Sales in U.S. Unexpectedly Fall on Broad-Based Retreat
Sales at U.S. retailers unexpectedly dropped in June, upending optimism about the strength of the rebound in consumer spending during the second quarter. Purchases decreased 0.3 percent after a 1 percent advance in May that was smaller than previously reported, Commerce Department figures showed Tuesday in Washington. The median forecast of 82 economists surveyed by Bloomberg called for a 0.3 percent gain. Eight of 13 major retail categories showed declines in demand. An early Memorial Day holiday probably contributed to boosting sales in May at the expense of last month, marking a more subdued performance for the ... (full story)
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