US Retail Sales Unexpectedly Contract In May
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US retail sales contracted 0.3% m/m in May, surprising expectations of a modest 0.1% m/m rise and following a downwardly revised 0.7% m/m increase in April. Sharp declines in vehicles (3.5% m/m), electronics and appliances (1.3% m/m) and home furnishing (0.9%…
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