Sales Increased 3.2% in November (What Happened)

[stewert]

What happened to that 5, 6, even 7 percent increase in sales the right-wingers all predicted ?

A: IT NEVER HAPPENED

Larry Kudlow (CNBC Bush Water Boy) predicted a 6 to 7 percent increase in sales for november.
He also predicted the economy would add 200,000 jobs in November. This guy should not quit his
day job. The sales increase was 3.2 percent for november, and the economy only added 57,000
jobs for november. Kudlow was 2 for 2, he was dead wrong on both predictions.

I thought the economy was booming, what with that 7.2 percent GDP in the 3rd quarter.

I guess it's only booming in the republican propaganda department.

What's this, low and behold the upscale stores did great, Neiman Marcus gained 5.8%, Nordstrom
rose 7.4%, and Saks Fifth Avenue surged 11.3%. That's because the wealthy got all the tax cuts
and they went to these upscale stores and spent it.

Yet the department stores where middle class america shop had a 1.1 percent dip in sales.

Department stores: A 1.1% dip dented hopes to break a string of holiday declines.

The great Wal-Mart only had a 3.9 percent increase for the month of november. Like I said before,
the economy is doing great, if you are wealthy. The average working man is getting killed in the
Bush economy.

Yet all these right-wing idiots were on TV saying the november sales would increase 6 to 7 percent.
It was all BS, they just made it up. Where are they now, nowhere to be found. And jobless claims
went up, not to mention the new jobs only increased by 57,000 in november, and it was predicted
to go up 150,000.

What happened ?

From the USA Today Newspaper:

Retailers say start of season not jolly

12-4-03 -

It's official: The start of the holiday shopping season was lukewarm, casting a shadow over the
critical final quarter for retailers. While sales were solid for the Thanksgiving weekend, the
ceremonial kickoff of the holiday season, sales for the full month of November were hardly robust.

November sales at stores open at least a year, a key measure of growth, were up a modest 3.2%,
show data from retailers released Thursday by sales-tracker Redbook. That was a turnaround from
the 1.6% November decline that opened last year's season but brought gains for the year to just
2.2%.

"Americans have proven themselves to be extremely cautious spenders. (The day after
Thanksgiving) was the Great American Bargain Hunt," says Kurt Barnard, chief economist at Retail
Forecasting. His firm pared December sales growth estimates to 3% to 3.5% from 3% to 4%.

Consumers will have to unleash a barrage of spending in December if overall holiday season
forecasts of 5.7% growth are going to be met.

Full Story:

http://www.usatoday.com/money/industries/retail/2003-12-04-retail-sales_x.htm

[jenk]

1. what happened?

reality struck

[stewert]

3. How Dare You Live in Reality !

Don't you know you are supposed to just go by what Bush and the media tell you.

How dare you try to force me to live in reality.

I asked my dad if he knew what the november sales increase was for november.

He had no idea, bingo !

Because the media is not reporting it, and he watches the news all the time, TV News.

He knew they predicted a 5.7 percent increase, but he did not know it was only up 3.2
percent. He does not go on the net, he gets all his news from TV news outlets.

Just goes to show what the masses know, and what they don't.

[Mattforclark]

2. I am doing my part

I have not bought anything for christmas yet

[BuelahWitch]

4. I'm probably going to spend about $14.95 on Xmas this year..

..plus shipping. My adopted little brother will get a stuffed singing hamster (he collects them) and some candy. Kitty cat doesn't play with toys anyway (besides her old catnip mouse) so no need to spend on her.

On the other hand, I got myself a new microwave for my birthday...

[WildThang]

5. where do you find

stuffed singing hamsters?

[newyawker99]

8. Hi WildThang!!

Welcome to DU!! :toast:

[ComerPerro]

6. Here is the thing that really kills me:

People were trying to spin the Friday after Thanksgiving spending as justification to prove that the economy was getting better.

Its like that incompetent retail manager who has one good day of sales, and so he decides to base his goals on that one day. Then he has the nerve to get pissed when the store doesn't meet is goals.

Anyway...


This is very important to take note of. Is the economy doing well? YES (if you are rich). Essentially, the rich never suffer during times of recession, and actually more often than not come out better off than they were before the recession.

So when Republicans gloat about how good the economy is, they aren't spinning or lying. In fact, they are telling the horrible truth: Its treating them and the wealthy very well, and that is all that matters.

[Skittles]

7. it's all a lie

they are lying to us

[Nay]

9. We also are buying nothing for each other for Christmas.

Our big gift next year will be the ouster of that pretend president.

Can someone tell me how the percentages above are figured? Do they count total spending, spending in retail stores, what? If, for example, any spending I do at local co-ops, etc., are not counted, I will feel free to buy a few stocking stuffers there. If total spending of all kinds is included in figuring the percentage, I will even be a miser at the grocery store.

[Zynx]

10. That was truly pathetic growth.

It will be enough to see layoffs of about 110,000 in December because seasonal hiring will be below what the DOL is expecting.