US retail sales fall adds to pressure for rates cut

By David Prosser, Deputy Business EditorPublished: 15 September 2007The latest US retail sales data added to the pressure on Federal Reserve chairman, Ben Bernanke, to cut interest rates yesterday, providing further evidence of a slowdown in the American economy.The US Commerce Department said retail sales rose by just 0.3 per cent during August, down from 0.5 per cent in July. The figure was