June retail sales fizzle despite stimulus

[marmar]

June retail sales fizzle despite stimulus

By Rex Nutting
Last update: 8:30 a.m. EDT July 15, 2008

WASHINGTON (MarketWatch) - U.S. retail sales rose a disappointing 0.1% in June despite nearly $50 billion in stimulus checks for consumers, Commerce Department data released Tuesday revealed. Sales were boosted by higher prices for gasoline, food and other consumer goods. The figures are seasonally adjusted but are not adjusted for inflation. It was the weakest sales since February's 0.2% decline. Sales in June were held back by the biggest drop in auto sales in more than two years. By contrast, sales at the malls and shopping centers were relatively healthy, stimulated by the tax rebate checks, Excluding the 3.3% drop in auto sales, sales rose 0.8%, the slowest in three months.


http://www.marketwatch.com/news/story/june-retail-sales-fizzle-despite/story.aspx?guid=%7BEFCE441F%2D16FC%2D4D1A%2DA6E8%2DE5F592D3D930%7D

[Ian David]

1. Nation Buys Porn With Stimulus Package (Porn sales up 20-30%)

Nation Buys Porn With Stimulus Package
http://www.huffingtonpost.com/2008/07/02/nation-buys-porn-with-sti_n_110457.html

[marmar]

4. That's awesome.....

Brother, can you spare a copy of "Jenna Loves Rocco"?

:evilgrin:

[Crazy Dave]

2. Ours went into our gas tanks and bills adding up from fewer hours at work

Sorry, there just wasn't enough left to go buy a new car or home

[SteelPenguin]

3. Here's how 90% of the people I know spent their stimulus

1) Paying off credit card debt. (the majority)
2) Adding to their savings account cushion. (the wealthier ones)
3) Paying off their children's credit card debt. (the wealthier older ones with kids)
4) Donated to a church or charity (only a couple)

Not alot of retail spending there in my anecdotal experience.

[Ian David]

5. Me... unexpected veterinary bills. n/t

[OmmmSweetOmmm]

6. Lots of money could have been saved if checks were directly sent to the oil companies.

I am sure most people have used the stimulus to keep their cars fueled.

[Bonobo]

7. The "stimulus checks" would have ti have been a factor larger to have made an impact

in people's lives.

Oh, and don't give me any crap about how you are out of work and $600 makes a big difference to you. It doesn't really, you know.

[bulloney]

8. But Bush just said today that the stimulus package needs more time.