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| Version 0 | Version 1 |
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| US sees big fall in retail sales | US sees big fall in retail sales |
| (10 minutes later) | |
| Retail sales in the US fell by an unexpectedly large amount in February, the latest sign that the world's largest economy may be in trouble. | Retail sales in the US fell by an unexpectedly large amount in February, the latest sign that the world's largest economy may be in trouble. |
| Retail sales fell by 0.6% last month compared with January, according to figures from the Commerce Department. | Retail sales fell by 0.6% last month compared with January, according to figures from the Commerce Department. |
| The data followed a 0.4% gain in January and a 0.7% fall in December as shops suffered a slow Christmas season. | The data followed a 0.4% gain in January and a 0.7% fall in December as shops suffered a slow Christmas season. |
| Consumer spending is closely watched in the US because it accounts for about two-thirds of total economic activity. | Consumer spending is closely watched in the US because it accounts for about two-thirds of total economic activity. |
| "The slowdown that we know is happening in the banks has manifested itself on Main Street," said Joe Francomano from Erste Bank in New York. | |
| "These economic numbers are going to get much worse and after the retail sales number, we saw the dollar trade lower," he added. | |
| Analysts had been expecting a rise of 0.2% in retail sales. | |
| There was some slightly better news from the Labor Department, which reported that the number of laid-off workers filing applications for unemployment benefits was unchanged in the last week at 353,000. |