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Retail Sales Report Shows Americans Pulled Back on Big-Ticket Purchases as Interest Rates Rose
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wsj.comAmerican consumers cut their retail spending for the second straight month in March, adding to signs of a slowing economy.
Shoppers pulled back on purchases of items such as vehicles, furniture and appliances amid climbing interest rates. Overall purchases at stores, restaurants and online declined a seasonally adjusted 1% in March from the prior month, the Commerce Department said Friday. Consumers also spent less on gasoline, reflecting a downward trend in prices.
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