Retail Sales in US Increase for Second Month

[FBaggins]

Source: Bloomberg

Sales at U.S. retailers rose in August for a second consecutive month, easing concern the economy will stumble in the second half of the year. Purchases increased 0.4 percent following a 0.3 percent gain in July that was smaller than previously estimated, Commerce Department figures showed today in Washington. Sales excluding automobiles advanced twice as much as forecast.

Demand at chains like Kohl’s Corp. and Ross Stores Inc. climbed as more states had tax-free holidays and some merchants offered bigger discounts to lure back-to-school shoppers. A lack of jobs and the need to repair household finances will probably restrain consumer spending, which accounts for about 70 percent of the economy, for the rest of the year.

“It’s reassuring,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, who correctly forecast the ex-auto sales figure. “It takes out some of the fears we had about a month ago about the economy maybe slipping into recession. If the labor market picks up, it’s sustainable.”


Read more: http://www.bloomberg.com/news/2010-09-14/retail-sales-in-u-s-increase-more-than-estimated-in-second-monthly-rise.html

[bluestateguy]

1. This is how it works with data

Bad news = Gospel Truth and the End of the World is Here

Good news = "The books are cooked!" or "yeah, but what the numbers don't tell you is...blah, blah, blah"

[xchrom]

2. Recommend

[No Elephants]

3. That must mean the economy is no longer broken and our problems are over. Yippee!!

(Wonder when the revised report will be out.)

[TomCADem]

6. GOP Will Argue That Its Because Americans Anticipate A GOP Landslide...

...Watch Fox News for the latest misinformation.

[Bragi]

4. "If the labor market picks up, it’s sustainable"

/cue laugh track

[madrchsod]

5. the workers/slaves in china and other third world countries thanks the usa

[MrsBrady]

7. At some point I'm going to have to buy

New business clothes. My office attire is pushing 5 years old.

I went back to school to finish my degree.

Now I'm working temp, but I still need things to work and interview in.
Buy make up, shoes, color my hair. And it ain't cheap, even if I buy on the cheap.


I can see why people are shopping at Ross.