Tuesday, September 14, 2010

Back to school shopping revives economy?

Or will this number be revised quietly next month too? (yes I'm cynical, there have been WAY too many economic numbers fudged and then revised)

Retail Sales Up 0.4 Percent in August
Retail sales rose in August by 0.4 percent, a one-tenth percent uptick from the previous month, but comfort for retailers worried about a possible double-dip recession.

While retail sales overall rose one-tenth percent from the previous month, which was revised downward after also briefly showing a 0.4 percent gain, the number reported by the Commerce Department is the best since March.

The gains came in spite of a marked decline in auto sales, which took a 0.7 percent drop from July. Still, the 0.6 percent rise in retail sales besides autos is double what economists had expected

Cheers!

No comments:

Post a Comment