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Retail Sales Growth Lower Than Expected

U.S. retail sales in April totaled $362.7 billion in April, a decent number but short of what many economists expected. Sales were half a percentage pint higher than in March, but many economists were looking for a seven-tenths to nine-tenths percent increase.

Retail sales are a particularly close watched indicator since consumer spending accounts for about two-thirds of all U.S. economic activity.

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