Retail sales drop 16.4% in April, vs 12.3% decline expected
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Retail sales drop 16.4% in April, vs 12.3% decline expected

Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday. CNBC's Rick Santelli and Steve Liesman break down the data.
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Fri, May 15 20208:38 AM EDT