A report released by the Commerce Department on Friday showed U.S. retail sales fell by much more than expected in the month of March.
The Commerce Department said retail sales slumped by 1.0 percent in March after dipping by a revised 0.2 percent in February.
Economists had expected retail sales to decline by 0.4 percent, matching the decrease originally reported for the previous month.
Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales still slid by 0.8 percent in March after coming in unchanged in February. Ex-auto sales were expected to dip by 0.3 percent.
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