Retail sales up by largest amount in months

**Prince** · 06-11-2009, 09:45 AM

Retail sales up by largest amount in months

Sales up 0.5 percent in May; largest monthly increase since January
Economy in Turmoil

WASHINGTON - Retail sales rose by the largest amount in four months in May, as a rebound in demand at auto dealerships and gas stations helped to offset continued weakness at department stores.

The Commerce Department said Thursday retail sales increased by 0.5 percent last month, in line with economists’ expectations. It was the largest increase since sales surged by 1.7 percent in January following six straight declines.

The May advance could be another signal that the worst of the recession is over. However, the all-important consumer sector is not expected to come roaring back, given all the troubles facing households as the country slogs through the worst recession in decades.

The 0.5 percent May increase followed two straight declines including an April drop of 0.2 percent, which was originally estimated as a larger 0.4 percent fall.

Auto sales rose by 0.5 percent last month, the best showing since a 2.7 percent surge in January. Even with the gain, sales are still 21.5 percent below where they were a year ago as auotmakers continue to struggle with the worst sales environment in decades. In an effort to spur demand, automakers have stepped up their incentive offers.

Excluding autos, retail sales were up 0.5 percent in May, better than the 0.2 percent gain that economists had been expecting.

Much of that strength, however, came from a 3.6 percent jump in sales at gasoline service stations, an increase which reflected in large part rising gasoline prices. The retail sales are not adjusted for inflation.

Sales were also up at hardware stores, grocery stores and and health stores.

Those gains helped to offset a 0.2 percent drop at general merchandise stores, a category which includes department stores and big retail chains such as Wal-Mart.

Last week, many U.S. retailers reported disappointing sales for May. The tally by Goldman Sachs and the International Council of Shopping Centers showed that overall same-store sales fell 4.6 percent, worse than the 3 percent drop predicted. Sales at stores open for at least a year are considered a key barometer of retail health.

To cope with the longest recession of the post World War II period and an unemployment rate which has hit a 25-year high of 9.4 percent, many families are spending less and saving more as they deal with layoff fears and shrunken home equity and retirement accounts.

In one hopeful sign, a Federal Reserve snapshot of economic conditions issued Wednesday found that five of the central bank’s 12 regions said the economy’s downward trend “is showing signs of moderating,” and hopes for future business activity improved.

The Fed survey is consistent with observations from Fed Chairman Ben Bernanke and other central bank officials that the recession — which started in December 2007 and is now the longest since World War II — is loosening its grip on the economy.

Many analysts predict the economy is sinking at a pace of between 1 and 3 percent in the current quarter. If they are right, that would mark a big moderation from the steep declines seen since last fall. The economy shrank at a pace of 6.3 percent in the final quarter of last year, and by 5.7 percent in the first three months of this year. It marked the worst six-month performance in 50 years.

Retail sales up by largest amount in months - Stocks & economy- msnbc.com

**Dale Mabry** · 06-11-2009, 10:03 AM

Interesting what they show to get people to spend. Comparing April to May sales shows nothing, compare May to last May and you will see a 10.8% drop. Retail sales always go up in May, the weather gets better and more people are out doing things, leading to more spending. I think we are at the point where the data being released is being tailored to what people want to see. That way, everyone starts spending again and investing in the market, even though absolutely nothing has changed. It is patriotic to waste your money and pump it back in to the economy, remember? Fiscally responsible people are communists, and not to be trusted.

**busyLivin** · 06-11-2009, 10:53 AM

Originally Posted by Dale Mabry

Interesting what they show to get people to spend. Comparing April to May sales shows nothing, compare May to last May and you will see a 10.8% drop. Retail sales always go up in May, the weather gets better and more people are out doing things, leading to more spending. I think we are at the point where the data being released is being tailored to what people want to see. That way, everyone starts spending again and investing in the market, even though absolutely nothing has changed. It is patriotic to waste your money and pump it back in to the economy, remember? Fiscally responsible people are communists, and not to be trusted.

If McCain had won I guarantee the numbers would used differently. That's the biggest problem with having the media in the bag for one party. And too many people can't see past it while the rest don't care.

**Dale Mabry** · 06-11-2009, 10:57 AM

Originally Posted by busyLivin

If McCain had won I guarantee the numbers would used differently. That's the biggest problem with having the media in the bag for one party. And too many people can't see past it while the rest don't care.

I am not sure it would be as bad as you think, but I agree it would be 100% different.

**Doublebase** · 06-11-2009, 11:19 AM

Maybe they are just trying to make people feel better about the economy. Instead of always pointing out the negative they show a positive. In hope to get a positive result.

**Dale Mabry** · 06-11-2009, 01:13 PM

Originally Posted by Doublebase

Maybe they are just trying to make people feel better about the economy. Instead of always pointing out the negative they show a positive. In hope to get a positive result.

Yeah, but in the meantime, Joe Q. Public thinks his job is safe because everyone is telling him the economy is on the upside. He buys more shit he doesn't need because he thinks he is secure and then BAM!, he loses his job and doesn't have a nest egg because he was told the economy is improving. I have clients who own their own businesses, they tell me we are nowhere near an upside.

**Doublebase** · 06-11-2009, 01:16 PM

Originally Posted by Dale Mabry

Yeah, but in the meantime, Joe Q. Public thinks his job is safe because everyone is telling him the economy is on the upside. He buys more shit he doesn't need because he thinks he is secure and then BAM!, he loses his job and doesn't have a nest egg because he was told the economy is improving. I have clients who own their own businesses, they tell me we are nowhere near an upside.

Well Joe Q. is an idiot. Don't spend what you don't have.

**Dale Mabry** · 06-11-2009, 01:25 PM

Originally Posted by Doublebase

Well Joe Q. is an idiot. Don't spend what you don't have.

I agree, but Joe Q. couldn't afford college tuition because it's $30k a year and his wife is a materialistic bitch. Poor guy.

**maniclion** · 06-11-2009, 02:08 PM

Originally Posted by Dale Mabry

I agree, but Joe Q. couldn't afford college tuition because it's $30k a year and his wife is a materialistic bitch. Poor guy.

Then John Q. comes in and fucks his brothers wife and Joe Q. hires a PI to catch them on tape. Then he divorces his material girl and gets away without having to pay alimony, plus he get both cars and the house. He sells the other car, rents the house, buys a nice little condo in town and starts working on his music career and becomes a one hit wonder with a hit single on the charts for 4 solid months. Girls are all over him now, he's got a cool 10 million and the futures so bright he's gotta wear shades....

**ZECH** · 06-11-2009, 02:53 PM

It's meaningless.....the increase all came from increased gas/fuel prices.

**maniclion** · 06-11-2009, 03:19 PM

Originally Posted by dg806

It's meaningless.....the increase all came from increased gas/fuel prices.

.....and labor day weekend a lot of people just let loose because it's been a while since our last long weekend....and July 4th seems far off.....

**Dale Mabry** · 06-11-2009, 04:02 PM

Originally Posted by maniclion

Then John Q. comes in and fucks his brothers wife and Joe Q. hires a PI to catch them on tape. Then he divorces his material girl and gets away without having to pay alimony, plus he get both cars and the house. He sells the other car, rents the house, buys a nice little condo in town and starts working on his music career and becomes a one hit wonder with a hit single on the charts for 4 solid months. Girls are all over him now, he's got a cool 10 million and the futures so bright he's gotta wear shades....

Yeah, but you aren't taking in the fact that since Joe Q. never went to college, he never took finance, and on top of that, he only passed algebra because he would give his math teacher Mr. Smith handjobs during study hall. Now, broke and penniless at age 42, he realizes all of the sex, drugs and Rock and Roll never quenched his true thirst, but those sons-a-bitches in California passed Prop 8 and he can't get gay-married to his old producer who gave him handjobs while working on his falsetto...

You can't get much more tragic than that.

**Dale Mabry** · 06-11-2009, 04:07 PM

Originally Posted by dg806

It's meaningless.....the increase all came from increased gas/fuel prices.

Bullshit, Super Obama made everything better. I bet by the end of the year we are at a $1 trillion SURPLUS!

**busyLivin** · 06-11-2009, 04:22 PM

Originally Posted by Doublebase

Maybe they are just trying to make people feel better about the economy. Instead of always pointing out the negative they show a positive. In hope to get a positive result.

Exactly the problem.

**Doublebase** · 06-11-2009, 05:25 PM

Originally Posted by Dale Mabry

Yeah, but you aren't taking in the fact that since Joe Q. never went to college, he never took finance, and on top of that, he only passed algebra because he would give his math teacher Mr. Smith handjobs during study hall. Now, broke and penniless at age 42, he realizes all of the sex, drugs and Rock and Roll never quenched his true thirst, but those sons-a-bitches in California passed Prop 8 and he can't get gay-married to his old producer who gave him handjobs while working on his falsetto...

You can't get much more tragic than that.

I think what it boils down to is people are very bad with money. They should teach money/finance like they teach english and math all throughout school.

**maniclion** · 06-11-2009, 05:30 PM

Originally Posted by Doublebase

I think what it boils down to is people are very bad with money. They should teach money/finance like they teach english and math all throughout school.

Then people wouldn't be the money spending sheep that rich men thrive on, lobbyists would be fewer and therefore politicians wouldn't have anyone to grease their palms......

**tucker01** · 06-11-2009, 06:01 PM

Originally Posted by Doublebase

I think what it boils down to is people are very bad with money. They should teach money/finance like they teach english and math all throughout school.

Have you seen the general populations english and math skills?

**danzik17** · 06-11-2009, 08:56 PM

Originally Posted by IainDaniel

Have you seen the general populations english and math skills?

I'd rate the general population right up there with animals that get hit crossing the road. Maybe a bit stupider because animals just don't know better.

**Doublebase** · 06-12-2009, 05:43 AM

Originally Posted by IainDaniel

Have you seen the general populations english and math skills?

This is true. On another note, I have seen a lot of very smart people that can't save buck. For example: A friend here at work. This kid is very smart when it comes to building, wiring, repairing things. He is very skilled with tools. He probably makes like 70K a year. He is only 27 years old. The kid is in credit card debt, lives in an apartment, has a 500/month car payment. He is obviously bad with money. I think if he had classes about money in high school they would have helped him in the future. But who knows. We would have to implement that into the system and evaluate in 10 years.

**Dale Mabry** · 06-12-2009, 07:37 AM

Originally Posted by Doublebase

This is true. On another note, I have seen a lot of very smart people that can't save buck. For example: A friend here at work. This kid is very smart when it comes to building, wiring, repairing things. He is very skilled with tools. He probably makes like 70K a year. He is only 27 years old. The kid is in credit card debt, lives in an apartment, has a 500/month car payment. He is obviously bad with money. I think if he had classes about money in high school they would have helped him in the future. But who knows. We would have to implement that into the system and evaluate in 10 years.

When I was in 1st grade they gave us bank accounts to manage, to try and teach us the power of saving. That was the end of it. I 100% agree that finance needs to be taught in high school, but also agree that the economy can't afford a population that is smart with their money so it won't happen.

**Doublebase** · 06-12-2009, 11:04 AM

Originally Posted by Dale Mabry

When I was in 1st grade they gave us bank accounts to manage, to try and teach us the power of saving. That was the end of it. I 100% agree that finance needs to be taught in high school, but also agree that the economy can't afford a population that is smart with their money so it won't happen.

Sad but true.

**ZECH** · 06-12-2009, 02:19 PM

Originally Posted by Dale Mabry

Bullshit, Super Obama made everything better. I bet by the end of the year we are at a $1 trillion SURPLUS!

Yeah just like he is going to save us with health care reform! LMAO. He's letting crude prices rise so he can implement his green energy crap on us.

**Dale Mabry** · 06-13-2009, 05:13 AM

Originally Posted by dg806

Yeah just like he is going to save us with health care reform! LMAO. He's letting crude prices rise so he can implement his green energy crap on us.

I agree with you. It's funny, the atmosphere around Obama during the election and even still is of hope and change. Everyone is hopeful that this new dog in the fight is a champion for the non-elite, but it is essentially business as usual. IMO, there is no reason for him to let Bush's tax cuts expire, if his removal of the loopholes is even going to be remotely effective, there should be no need to raise taxes. Plus, I look at his feigned ignorance of the speculators driving the price of gas up to get people behind his green initiative (I am behind it anyway, but i call a spade a spade) is akin to Bush using 9/11 as a way to go to war with Iraq. How is that any different?

Thread: Retail sales up by largest amount in months

Thread Tools

Display

Retail sales up by largest amount in months

Similar Threads

Health shop owner gets 14 months for steroid sales in Cloisters

Wholesale prices, retail sales jump (AP)

Calorie amount vs Food amount

Retail SUCKS- Part II

Posting Permissions