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Post by avordvet on Jul 17, 2012 4:55:56 GMT -5
'Just No Good News at All': Retail Sales Fall More Than Expected as Economy WeakensMonday, 16 Jul 2012 08:51 AM The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June. The report led some economists to downgrade their estimates for economic growth in the April-June quarter. Many now think the economy grew even less than in the first quarter of the year, when it expanded at a sluggish 1.9 percent annual rate. Spending in June fell in nearly every major category -- from autos, furniture and appliances to building, garden supplies and department stores. Overall, retail sales slid 0.5 percent from May to June, the Commerce Department said. www.moneynews.com/StreetTalk/Retail-Sales-consumer-purchase/2012/07/16/id/445445
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