US retail sales drop in April

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US retail sales drop in April

United States retail sales fell by 0.2 percent in April versus a big 1.7 percent jump in March, according to Commerce Department figures released on Wednesday. Core retail sales also missed at 0.1 percent against 0.7 percent expected. On Wednesday, Chinese industrial output and retail sales figures for April posted weaker-than-expected growth. Growth in the country’s industrial production slowed to 5.4 percent, missing estimations of 6.5 percent. Chinese retail sales rose 7.2 percent in April on-year, however came below forecast of 8.6 percent.