US retail sales unexpectedly drop as Trump’s trade war hits the backbone of the economy
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(Worthy News) – A key measure of consumer spending unexpectedly dropped for the first time in seven months in September, raising concerns about one of the brightest spots in the US economy.
The Commerce Department said on Wednesday that retail sales fell by 0.3% last month, the first decline since February, compared with a 0.6% rise in August. Retail sales account for more than two-thirds of economic output.
Consumer activity, along with hiring, has propelled an economy that has been otherwise roiled by a trade dispute between the Trump administration and China. [ Source: Business Insider (Read More…) ]
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