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U.S. Retail Sales Rebound In January

Following a slump that was actually larger than initially reported, U.S. retail sales have rebounded in the U,S., with eight of 13 categories advancing, including building sales. The December report is revised to a 1.6% drop instead of the previously stated 1.2% decline. “The stronger-than-expected report should ease concern about consumer strength after a surprisingly weak December that was likely hurt by the government shutdown and seasonal factors,” reports Bloomberg. “Higher wage gains and a robust labor market have supported spending, the largest part of the economy.”

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