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September 15, 2016 1 min read

U.S retail sales declined more than expected in August as auto and gasoline purchases fell, a signal that slowdown in consumer spending growth may diminish expectations of rate hike next week.

The Commerce Department said on Thursday that sales at retail stores, online and at restaurants fell 0.3 percent in August, which marked the first decline in retail sales since March. Retail sales in July, which were previously reported to have been unchanged, were revised 0.1 percent gain.

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