Retail sales hit brakes in week

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WASHINGTON, Aug. 1 (UPI) -- U.S. retail sales dropped 1.7 percent in the week ending Saturday, a trade group in Washington said.

The International Council of Shopping Centers said Tuesday that chain store sales "tumbled" 1.7 percent from the previous week, although they rose 1.8 percent from the same week a year earlier.

Sales gains "moderated" following the strongest year-over-year reading in a month posted in the previous weekly report.

"Consumers seemingly took a pause after booking healthy sales in the prior week," the report said.

Weather Trends Inc. said temperatures remained hot "in the Eastern two-thirds of the nation, while the West Coast was below normal."

Gasoline prices rose for the fourth consecutive week, hitting an average of $3.508 on Tuesday.