US retail sales show consumer caution |
| AFP - Sep 14, 2007 |
US retail sales rose a weaker-than-expected 0.3 percent in August, data showed Friday, suggesting US consumers are turning more cautious.
Excluding volatile auto sales, the Commerce Department report showed a 0.4 percent decline.
Analysts had been expecting a 0.5 percent rise in the headline figure and an increase of 0.2 percent excluding autos.
Economists had been watching retail sales, a major driver of economic growth, for signs of how consumers are responding to the housing slump and financial market turmoil.
The report contained an upward revision to July sales, showing an increase of 0.5 percent from an earlier estimate of 0.3 percent, with sales excluding autos up 0.7 percent from 0.4 percent.
Read Full Article from AFP
- Posted: 2007-09-14 10:26:20
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