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Retail sales rise on food and gas

The economy struggled to gain momentum early in the second quarter, with retail sales posting their smallest rise in nine months in April and wholesale prices increasing more than expected.

The economy struggled to gain momentum early in the second quarter, with retail sales posting their smallest rise in nine months in April and wholesale prices increasing more than expected. In addition, other data showed new claims for jobless aid fell 44,000 to a seasonally adjusted 434,000 last week, but remained too high to signal strong labor market recovery.

Total retail sales increased 0.5 per cent after an upwardly revised 0.9 per cent in March, the Commerce Department said. The rise in sales, which marked 10 straight months of gains, was on the back of increases in receipts at gasoline stations and food stores.


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