Solid U.S. retail sales offer economy some respite
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WASHINGTON (Reuters) - U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter. The fairly upbeat report from the Commerce Department on Friday followed a raft of weak data, including a step-down in hiring in May and tame inflation readings, that have led economists to believe that the Federal Reserve will signal a rate cut later this year when..