U.S. and China retail sales are moving in the wrong direction
Even before President Trump heated up the trade war again, consumers in both the U.S. and China were slowing down their spending.
- China's retail sales rose 7.2% in April, the slowest rate of growth since May 2003, a sign their economy is cooling significantly.
- U.S. retail sales unexpectedly fell 0.2% last month when analysts projected a 0.2% increase. However, retail sales did show year-over-year growth of 3.1%.
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