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Retail sales slide, but sentiment improves

from TIME magazine

The U.S. Commerce Department reported that retail sales for May fell 1.2 percent, a disappointment given that analysts had been hoping for a modest gain. It knocks some of the good feel from Federal Reserve Chairman Ben Bernanke's testimony before the House Budget Committee. But, that said, the May report is not the end of the recovery nor a major deterioration in consumers' propensity to spend. more


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