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Washington, DC(CNN) Spending at US retailers fell in March as consumers pulled back amid recessionary fears fueled by the banking crisis.
Retail sales, which are adjusted for seasonality but not for inflation, fell by 1% in March from the prior month, the Commerce Department reported on Friday. That was steeper than an expected 0.4% decline, according to Refinitiv, and above the revised 0.2% decline in the prior month.
This story is developing and will be updated.
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