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October 29, 2013 AT 9:37 AM
That was senior research analyst Alex Gauna. A gauge of U.S. consumer spending rose in September as Americans likely snapped up Apple's new iPhone and bought leisure goods, but falling sales of automobiles pointed to sluggish economic growth during the third quarter. The Commerce Department said on Tuesday retail sales excluding automobiles, gasoline and building materials, increased 0.5 percent last month after a 0.2 percent gain in August.