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Americans Cut Back, Hurting Retail Sales

REUTERS/Mike Blake/File Photo WASHINGTON (Reuters) - U.S. retail sales unexpectedly fell in April as households cut back on purchases of motor vehicles and a range of other goods, which could temper expectations for a sharp rebound in consumer spending after it slowed in the first quarter. The Commerce Department said on Wednesday retail sales slipped 0.2% last month. Data for March was revised slightly up to show retail sales surging 1.7%, the largest increase since September 2017, instead of the previously reported 1.6% jump.

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