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The U.S. Commerce Department released retail sales today. Retail sales were flat in July, missing expectations for a 0.2%rise, after a 0.2% increase in June.
Retail sales, excluding automobile sales, climbed 0.1% in July, missing expectations for a 0.4% rise, after a 0.4% gain in June.
Motor vehicles and parts sales dropped 0.2%. Sales at general merchandise stores decreased 0.5%, while department stores fell 0.7%.
The slowdown in purchases points to some loss of momentum in the economy. Retail sales account for a third of consumer spending in the U.S.
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