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Consumer
spending accounts for two-thirds of U.S. economic activity
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Advance estimates of U.S.
retail and food services sales for May, adjusted for seasonal
variation and holiday and trading-day differences, but not for price
changes, were $364.2 billion, an increase of 0.1% from the previous
month and up 7.6% from May 2005, according to U.S. Census Bureau.
Gasoline sales were up 21.9% from May
2005 and sales of nonstore retailers were up 14.1% from last year.
Meanwhile motor vehicle and parts sales fell 1.6%, the largest drop
since February. Excluding cars and parts, retail sales rose 0.5
percent.
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