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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%.