Retail Sales Down 0.1% In July

The U.S. Commerce Department said retail sales fell 0.1 percent in July. This followed a 0.8 percent increase in the previous month.

Economists had expected the figure to rise.

Excluding the auto sector, which was expected to receive a boost from the government's popular "cash for clunkers program," retail sales dropped by 0.6 percent. Economists were looking for a 0.1 percent rise excluding autos.