Economics
U.S. Retail Sales Unexpectedly Drop in Signal of Shaky Consumer
- Spending fell 0.3% in September; analysts had seen a gain
- ‘Control group’ subset of sales was unchanged during month
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U.S. retail sales unexpectedly posted the first decline in seven months, suggesting consumers are starting to become shaky as the main pillar of economic growth and potentially bolstering the case for a third straight Federal Reserve interest-rate cut.