2 hours, 47 minutes ago WASHINGTON (AFP) - US retail sales slumped 1.2 percent in September, government data showed Wednesday in a sign of deeper troubles for an economy ailing from a financial market firestorm and tight credit.The drop in sales was the steepest since August 2005 and weaker than market expectations for a 0.7 percent decline.
Ian Shepherdson, economist at High Frequency Economics, said the report was even more grim because it covered a period before the worst of the financial market turmoil.
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