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Retail Sales At Weakest Pace In 7 Months

From a blindsided Reuters:

Retail Sales Post Weakest Reading in 7 Months

Thursday, 12 Jan 2012

U.S. retail sales rose at the weakest pace in seven months in December as consumers pulled back late in the holiday shopping season, cutting purchases at department stores and spending less on electronic gadgets.

Total retail sales increased 0.1 percent after rising by an upwardly revised 0.4 percent in November, the Commerce Department said on Thursday.

Economists polled by Reuters had forecast retail sales climbing 0.3 percent last month.

So the economists at Reuters thought sales would be three times stronger? What a shock.

Still, that didn’t keep Reuters and the rest of the mainstream media from telling us for weeks that retail sales were booming. After all, they have to talk up the economy somehow. That is their job.

The upward revision for November sales suggests consumers likely frontloaded their holiday shopping

Oh. Okay then.

Still, it’s too bad they can’t blame all this on the weather.

This article was posted by Steve on Thursday, January 12th, 2012. Comments are currently closed.

4 Responses to “Retail Sales At Weakest Pace In 7 Months”

  1. GetBackJack says:

    When the economy is based on debt instead of wealth and a fiat currency that can be manipulated at will without resort to actual value, keeping that currency in motion is as essential as keeping your body’s blood flowing. If either stops, the patient dies.

    Therefore, Savings, long term Investments, basing investments on value instead of churn and burn, failure to participate in rapid turnover of the instruments of exchange you’ve accumulated (called money) are worse than apostate …. being responsible and prudent with your money is actually a threat to the security of the Nation, citizen.

    We are data mining to find you. You blasphemous hooligans …..

  2. preparing4theworst says:

    Any bets on the “dropping unemployment rate” reported last week being “surprisingly” revised upward at the end of Jan. when the post-holiday layoffs hit?

  3. preparing4theworst says:

    ….oh, wait, that’s the NEXT article…..my bad

  4. canary says:

    Fox News screwed up and said consumers buying is up based on more loans being taking since Obama took office which means they are buying more.

    I disagree, people have been afraid to take out loan and are hitting a point they feel they have no choice or their old car died.

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