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February Retail Sales Add to Worry About Consumer Spending
Retail sales notched a monthly gain in February, but came in lower than anticipated, raising concerns that consumer spending —the engine powering the U.S. economy— is starting to sputter. The Census Bureau said Monday that retail sales rose 0.2% in February from January. The change in January sales was revised down to a 1.2% monthly decrease from a 0.9% decline, suggesting that the pullback in spending observed early in the year was bigger than previously projected.
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