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International Business Times
International Business Times
Business
Terry Massey

Retail sales top expectations as Fed prepares for rate cut

the Federal Reserve US Federal Reserve Interest Rates United States

Consumer spending remained strong in August as U.S. retail sales beat expectations, lending more credibility to the Federal Reserve's pending reduction in interest rates.

Retail sales shows a minor increase of 0.1% in August, largely due to a rise in online sales, according to Tuesday's data from the Commerce Department's Census Bureau.

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