U.S. retail sales drop for third month in five

Retail sales fell 0.2% in April on a seasonally adjusted basis, a reversal after a 0.2% gain in March. Over the past year, sales were up 2%, matching the slowest growth in five years.

Excluding a 2.8% drop in motor vehicles, however, retail sales rose 0.5% last month, stronger than the 0.1% gain expected and the biggest increase since January. Sales excluding autos were also revised higher for March, a sign that consumption in the first quarter may have been stronger than first reported.
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