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Retail sales up though consumer spending slows

from Gourmet Retailer

Though retail sales rose for the 11th straight month in May, rising gas prices and a weak labor market took the steam out of consumer spending, with only a few retail sectors reporting growth. According to the National Retail Federation, retail industry sales — which exclude automobiles, gas stations and restaurants — for May increased 0.1 percent seasonally adjusted from April, and 5.0 percent unadjusted year-over-year. more

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