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US Consumer Spending Drops for Second Consecutive Month

U.S. consumer spending dropped for the second straight month in January, a new signal that growth of the world's largest economy may have slowed. The government reported Thursday that retail sales fell 0.4 of a percentage point last month, the biggest drop in 10 months, after a 0.1 drop in December, which previously had been reported as an increase. Consumer spending accounts for 70 percent of U.S. economic output and is closely tracked by economists. An unusually cold and snowy...

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