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US retail sales rose a solid 0.8 percent last month

U.S. retail sales rose at a solid pace in October, though the gains were boosted by one-time factors such as hurricane recovery spending and higher gas prices.

Retail sales rose a seasonally adjusted 0.8 percent last month, following two months of slight declines, the Commerce Department reported Thursday. Excluding gasoline sales, which were inflated by higher prices, sales climbed 0.5 percent.

The figures suggest that consumers are pulling back a bit on their spending, which is likely to slow growth in the final three months of the year. Americans had lifted their spending over the summer and fall at the fastest six-month pace in four years. Yet business spending on...

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