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Fox Business
14 Apr 2023
Americans pulled back on spending at retail stores in March as demand cooled in the face of banking turmoil, persistent inflation and high interest rates.
Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, tumbled 1% in March, the Commerce Department said Friday. That is well below the 0.4% decline projected by Refinitiv economists and a marked drop from February, when sales fell 0.2%.
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