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US retail sales drop 0.3% in October

November 14, 2012

WASHINGTON -- Americans cut back sharply on spending at retail businesses in October, an indication that some may still be cautious about the economy. Superstorm Sandy may have slowed business at the end of the month. The Commerce Department said Wednesday that sales dropped 0.3 percent after three months of gains. Auto sales fell 1.5 percent, the most in more than a year.

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