April 26 (Reuters) - Wells Fargo on Wednesday lowered
its first-quarter forecast for U.S. real gross domestic product
(GDP) growth by 100 basis points to a 0.8% rise, days after
revised data from the commerce department showed weaker retail
sales in March.
The Wall Street bank said it had reduced its estimate for
retail sales and tweaked its expectation for inventory
accumulation.
(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Shinjini
Ganguli)
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