Mixed Data Hint at Slowing Recovery
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A mixed batch of data suggested that the U.S. economy was slowing from its torrid third-quarter pace, but analysts said the recovery still appeared on track for solid fourth-quarter growth.
In a report showing a second straight month of declining consumer activity after surges in July and August, the Commerce Department said retail sales fell 0.3% last month.
The Federal Reserve reported that industrial production rose 0.2% in October, down from a 0.5% gain in September. October’s increase, half what economists were predicting, was held down by a 3.8% drop in auto industry production.
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