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U.S. Retail Sales Rose Sharply in January
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U.S. retail sales rose 3% January, sharply rebounding as job growth accelerated and inflation cooled slightly at the start of the year.
Inflation, rising borrowing costs and uncertainty about the economy caused households to pull back on spending late last year. But the unexpectedly strong jobs report in January and still solid wage gains bode well for more recent consumer spending, economists said. Some of them think economic growth could be picking up.
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