In an unexpected twist, US retail sales climbed slightly in January after falling for six straight months, Bloomberg reports. Retail sales rose 1% as gasoline prices increased and consumers spent more on food and clothing, despite forecasts that sales would fall 0.8%. But consumer spending is expected to fall as the year continues. In the grand scheme, such spending, making up some 70% of the economy, is “on the skids,” said an economist.
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