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THE ECONOMY
Retail sales rise 1.4% in October
Retail sales rose more than expected in October largely because of a big rebound in auto sales. But broader consumer spending remains under pressure, raising questions about the durability of the recovery.
Last month’s jump in sales also followed a dismal September retail performance that was revised even lower by the government.
The Commerce Department said retail sales rose 1.4% last month. Economists surveyed by Thomson Reuters had expected a gain of 1%. Excluding auto sales, retail demand rose 0.2%.
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