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Weak US inflation, retail sales data dim rate hike prospects

However, US economy likely regained speed in Q2 after sluggish performance at the start of the year

Reuters  |  Washington 

US consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and soft domestic demand that diminished prospects of a third interest rate increase from the Federal Reserve this year. Still, the economy likely regained speed in the second quarter after a sluggish performance at the start of the year. Other data on Friday showed industrial production picked up in June, driven by a surge in oil and gas drilling. "Today's reports imply that the Fed will go very slowly normalising rates, but it also means that ...

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First Published: Fri, July 14 2017. 23:11 IST
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