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Retail sales rise slightly

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Retail sales rise slightly

May results miss expectations.

Retail sales rose 0.3% last month, according to data released by the Commerce Department today, following a revised 0.5% increase in April.

Analysts had expected an increase of 0.6%.

Sales excluding autos, gasoline, building materials and food services, so-called “core sales,” were unchanged in May.

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The results disappointed analysts, but will probably not damper growing optimism for strong growth in the 2nd and 3rd quarters.

 

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