Retail sales drop unexpectedly in January
WASHINGTON (Reuters) - U.S. retail sales fell unexpectedly in January, and another gauge of consumer spending also slipped.
The Commerce Department said on Thursday retail sales fell 0.4 percent last month, led by a drop in automobile sales. Sales fell by a revised 0.1 percent in December.
Economists polled by Reuters had forecast retail sales would be unchanged in January after rising by a previously reported 0.2 percent in December.
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