August 14, 2007	Tuesday	Rajab 29, 1428

WASHINGTON, Aug 13: US consumers spent more freely than expected last month as declining gasoline prices shielded household budgets, government data showed on Monday, helping lift investor spirits after a week of bruising losses.

Sales at US retailers rose a slightly more-than-expected 0.3 per cent in July and core sales, which strip out car, building material and gasoline sales, were even stronger, the commerce department data showed.

The data did not reflect the response of consumers since concerns over credit availability hit in early August, slamming markets and forcing central banks to pump massive amounts of liquidity into the financial system to restore confidence.

—Reuters