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U.S. Retail Sales Trail Forecasts as Autos, Apparel Decline
U.S. retail sales rose by less than forecast in August following an upwardly revised July gain as purchases of automobiles and clothing fell, suggesting households took a breather from spending. The value of overall sales climbed 0.1 percent from the prior month after a 0.7 percent increase in July, Commerce Department figures showed Friday. The median forecast of economists surveyed by Bloomberg called for a 0.4 percent gain. Combined results from July and August indicate support from a strong job market and more after-tax pay during the back-to- school shopping season. While household spending, the biggest part of ... (full story)
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