Retail sales fall again in June, third straight month of decline (gasoline, Obama)
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Falling consumer confidence led to a third straight month of contraction in the retail sector, dropping 0.5% in June. It’s the third straight month that retail sales have declined, the first time since 2008 that has happened:
Quote:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.5 billion, a decrease of 0.5 percent (±0.5%)* from the previous month
Reuters avoids the “U” word, but does note that analysts expected retail sales to rise modestly in June rather than fall:
Quote:
It was the first time sales had dropped in three consecutive months since late 2008, when the economy was still mired in a deep recession. Analysts polled by Reuters had expected retail sales to rise 0.2 percent. …
The retail data is particularly worrisome because it suggests consumer spending, which drives about two-thirds of the economy, is also sagging.
Sales of motor vehicles and parts dropped 0.6 percent last month. Receipts at electronics and appliance stores declined 0.8 percent. Sales of building materials slipped 1.6 percent, while receipts as gasoline stations dropped 1.8 percent.
Yes and I'm sure that you are doing Cartwheels about this news since you have to tie this to Obama. I swear I think you Obama haters hope the Economy tanks so Obama won't be re-elected!
Yes and I'm sure that you are doing Cartwheels about this news since you have to tie this to Obama. I swear I think you Obama haters hope the Economy tanks so Obama won't be re-elected!
We don't NEED to....Obama is providing the drama all on his own. I'm just bringing the marshmallows to roast while Obama burns down the economy.
He's the one in power....I certainly can't do anything about it, but watch.
His reign of power aka destruction will end soon!
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