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US May retail sales beat expectations; point to strong demand

from Reuters

U.S. retail sales rose more than expected in May as Americans bought automobiles and a range of other goods, suggesting economic growth was gaining steam despite a sharp slowdown in job creation. The Commerce Department said retail sales increased 0.5 percent in May after surging by an unrevised 1.3 percent in April. It was the second straight month of gains and lifted sales 2.5 percent from a year ago. more


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