U.S. retail sales fall more than expected on weak autos

September 15, 2016 12:38 PM

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U.S. retail sales fall more than expected on weak autos

WASHINGTON, U.S. retail sales fell more than expected in August amid weak purchases of automobiles and a range of other goods, pointing to cooling domestic demand that could further diminish expectations of a Federal Reserve interest rate increase next week.

The Commerce Department said on Thursday retail sales declined 0.3 percent after an upwardly revised 0.1 percent gain in July. Retail sales in July were previously reported to have been unchanged.

Also read: GM, Ford sales up; FCA down 14.3% in November

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