Retail Spending Remains Flat
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WASHINGTON — Retail spending, which fuels most of the domestic economy, was virtually unchanged in June for the fourth consecutive month as debt-weary consumers continued to shun expensive purchases, the Commerce Department reported today.
Sales edged up only 0.4% in June. Sales have not varied more than 0.5% up or down since February. Spending during the first six months of 1987 was down 0.1% from the last six months of 1986. Private economists said consumers have cut their buying because of low personal income growth and high debt burdens.
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