Retail Sales Up 0.3% in August, Slower Than July

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Retail Sales Up 0.3% in August, Slower Than July

Washington, DC, September 14, 2007--Retail sales rose 0.3%, following a revised 0.5% gain in July that was larger than previously estimated, according to the Commerce Department.

 

Sales excluding automobiles fell 0.4%.

 

Economists had expected retail sales to increase 0.5 % after an originally reported 0.3 % increase in July,

 

Sales excluding automobiles were forecast to increase 0.2%. Previously they were reported as increasing 0.4%.

 

Sales of automobiles and auto parts rose 2.8%. Sales at service stations dropped 2.4%. Excluding autos and gasoline, sales dropped 0.1 % the first decline since April.