Business News - Retail sales gain slightly on week

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Retail sales gain slightly on week

WASHINGTON (UPI) -- Retail sales in the United States gained marginally on the week ending July 5, the International Council of Shopping Centers-USB reported Tuesday.

Shopping gained by 0.2 percent on the week, but 2.3 percent from a year ago, the report said.

"Consumer spending continues to be adversely affected by high fuel prices that reduce discretionary purchasing power," the report said.

The retail group noted that the national average gasoline prices rose by 1.9 cents to a record $4.114 per gallon on July 7.

Copyright 2008 by United Press International

This news arrived on: 07/08/2008

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