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Evening Standard
Evening Standard
Business
Simon Hunt

US retail sales growth adds pressure to Fed rate rise

US Federal Reserve boss Jerome Powell

(Picture: REUTERS)

US retail sales grew 1% in June, figures released by the US Commerce Department show, as pressure mounts on the Federal Reserve to deliver a bigger interest rate rise.

The growth was led by increased sales in petrol, furniture and e-commerce and follows a 0.1% drop in retail sales in May.

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