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Americans Are Spending Less on Their Credit Cards, Lenders Say

Americans dialed back spending on their credit cards in June, pointing to another weak month of US retail sales, according to two major lenders. 

Barclays economists led by Pooja Sriram said their internal credit-card numbers suggest that retail sales may have dropped 0.4% last month, which would be a second straight decline. “Recent data suggest that the US consumer might be starting to pull back on spending,” they wrote in a research note Monday. That has “led us to question if a sharper slowdown in consumer spending is around the corner.”