Fed: Retail sales slump as rates expected to stay on hold

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Fed: Retail sales slump as rates expected to stay on hold

Retail sales have slipped back in December as early discounting took the puff outof the pre-Christmas rush and the figures providing further evidence of an economy comingoff the boil.

The slowdown's been reinforced by a leading business survey which has showed a fallin business confidence and cemented economists' expectations the Reserve Bank would makeno change to interest rates today.

The Australian Bureau of Statistics says retail sales fell 0.9 per …