BUSINESS MEMO: CAR SALES UP

Americans snapped up cars and light trucks last month at a brisk clip that helped push overall retail sales up by a bigger-than-expected 0.7 percent.

The Commerce Department reported Thursday that total retail sales, which represent about a third of the nation's economic output, rose last month to a seasonally adjusted $248.7 billion.

Sales were 9.1 percent higher than July of last year. New car and light trucks sales increased by 2.3 percent in July, compared with an 0.8 percent drop in June. The auto industry predicts record sales this year.