Business Centre – canada.com network — The numbers come out on Friday. One would hope for an uptick after the dismal July numbers. Normally the summer months bring up the numbers because of temp summer jobs.

The largest retailers in the U.S. reported a third consecutive month of weak sales, as low-to-middle income shoppers became more frugal in response to rising energy and grocery bills and growing worries about the job market.

For example, Wal-Mart Stores Inc., the world’s largest retailer, dipped eight cents to $52.55 US as it reported a slim 0.5 per cent increase in sales, missing Wall Street forecasts for a rise of 1.5 per cent. Based on disappointing sales, Wal-Mart said it now believes that third-quarter profits will be at the low end of its forecast.

Also, the number of new people signing up for U.S. unemployment benefits rose for the second week in a row, up 19,000 to 363,000. However, markets brushed off the report since it reflected the lingering impact of hurricane Charley.

Interesting Overlooked story:

Part of the weak dollar stems from continued job losses

Last week trading on the currency market saw the dollar plunged across the board near its three-week low against the European single currency trading at $1.2275. The greenback eased after a far weaker than expected US employment report cast doubt about the health of the US economy,