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US retail sales miss expectations

U.S. retail sales declined 0.3% on an adjusted basis to $492.0 billion in January 2018 from the previous month as sales at building material and garden equipment and supplies dealers fell 2.4%.

Retail sales were expected to rise 0.3% from December 2017, according to a consensus forecast from Econoday.

Motor vehicle and parts dealers saw a 1.3% decline in sales and sales at health and personal care stores dropped 1.2%.

Five of the 13 types of businesses measured in the monthly report registered lower sales, and five experienced increases in sales during the month. Sales at nonstore retailers, food services and drinking places, and food and beverage stores remained unchanged from the previous month.

Retail sales increased 3.6% in January 2018 from January 2017.