JULY RETAIL SALES SHOW CAUTIOUS SHOPPING.(Business)

Byline: Alan Zimmerman Knight-Ridder

Tuesday's report on July retail sales shows the American consumer is still out there shopping, but at a cautious and lackluster pace, economists said.

As for a trend, retail sales for May, June and July average out to up 0.4 percent, barely ahead of the inflation rate.

And some economists see this report adding to the likelihood of a serious slowdown in the fourth quarter. One economist called the consumer "a tired puppy."

Tuesday's report shows retail sales for July up 0.1 percent, off from the 0.4 percent forecast. But June was revised to up 1.1 percent from the original estimate of up 0.5 percent. …