September 15, 2007	Saturday	Ramazan 2, 1428

WASHINGTON, Sept 14: US retail sales rose a weaker-than-expected 0.3 per cent in August, data showed on Friday, suggesting US consumers are turning more cautious.Excluding volatile auto sales, the Commerce Department report showed a 0.4 per cent decline.Analysts had been expecting a 0.5 per cent rise in the headline figure and an increase of 0.2 per cent 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 0.5pc from an earlier estimate of 0.3 per cent, with sales excluding autos up 0.7 per cent from 0.4 per cent.

Over the past 12 months, retail sales are up 3.7 per cent, or 3.9 per cent excluding autos.

The August report showed much of the decline outside of autos came from falling gasoline prices. Gas station sales fell 2.4 per cent on the price effect.

Without both the auto and gasoline factors, core retail sales were still down 0.1 per cent last month.—AFP