Retail Sales Stall As Political Gridlock Hits Confidence
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Growth in U.S. retail sales stalled in August after a pitched battle over spending in Congress led consumer confidence to crumble, data showed on Wednesday. Sales were unchanged from a month earlier, a substantially weaker reading than the median forecast for a 0.2 percent rise in a Reuters poll. Sales growth during July was revised downward to 0.3 percent. Consumer spending accounts for about two thirds of U.S. economic activity, and the Commerce Department data suggests growth in the first two months of the third quarter was weaker than many economists expected. Excluding autos, sales increased 0.1 percent in
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