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WASHINGTON (AP) - Consumers kept spending in August and factories kept producing, but the gains were weaker than expected as financial market turbulence and a slumping housing market continued to weigh on the economy.
Analysts said the new economic reports released Friday give the Federal Reserve more reasons to cut a key interest rate when policymakers meet next week.
The Commerce Department said retail sales increased 0.3 percent in August with the strength led by a 2.8 percent jump in auto sales, the biggest increase in this category in more than a year.
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