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US retail sales rose 0.4% in September, strengthening expectations of a 25 basis point interest rate cut by the Federal Reserve.
Odaily Planet Daily News According to the US retail sales growth rate in September was slightly higher than expected, supporting the view that the economy remains strong in the third quarter. US retail sales in September recorded a monthly rate of 0.4%, while the unadjusted growth rate in August was 0.1%. Signs of economic recovery may not prevent the Fed from cutting interest rates again next month, but it will strengthen the expectation of a 25 basis point rate cut. (Jin10)