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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| September 01, 2004 | COPYRIGHT 2004 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Retail sales slowed last week

The International Council of Shopping Centers-UBS Retail Chain Store Sales Index fell 0.2% in the week ended Aug. 28. The group blamed several factors, including higher gasoline prices and Hurricane Charley.

** The Johnson Redbook Index of retail sales fell 1.1% vs. the same period in July, but rose 1.3% vs. a year ago.

** New York business conditions improved in Aug. The NAPM-NY regional business climate gauge rose to 307.1 from 302.5 in July.

** A NAFTA panel rejected a U.S. argument that Canadian softwood lumber imports hurt U.S. producers, according to Canadian press reports. If the ruling stands, the U.S. may have to scrap 27% duties on some Canadian wood.

Euro zone inflation stays steady

The 12-nation region's inflation rate held at 2.3% in Aug., Eurostat said. It was 2.4% in June and 2.5% in May. But it's still above the ECB's inflation target of just under 2%.

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