US Retails sales decline in August by more than forecast

Wibbitz Top Stories 2016-09-15

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Sales at U.S. retailers dropped more than forecast in August, indicating a pause in recent consumer-spending strength that has carried the economy. The Commerce Department said on Thursday retail sales declined 0.3 percent after an upwardly revised 0.1 percent gain in July. Other data on Thursday showed the labor market continuing to tighten with layoffs remaining very low last week,  and underlying producer inflation creeping up in August.

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