Skip to comments.Retail sales unexpectedly fall in March
Posted on 04/12/2013 6:09:28 AM PDT by tobyhill
Retail sales contracted in March for the second time in three months, a sign the American economy may have stumbled at the end of the first quarter.
Retail sales fell 0.4 percent during the month, the Commerce Department said on Friday. That was below analysts' expectations that sales would be flat.
Readings for retail sales have been volatile so far this year, making it difficult to know whether the weakness in March was due to a tax hike that went into effect at the start of the year or to temporary factors related to the weather.
Retail sales advanced 1 percent in February, according to revised readings from the government.
Stripping out cars, gasoline and building materials, sales fell 0.2 percent in March. This core measure corresponds closely with the consumer spending component of gross domestic product. The government revised lower past core retail sales figures to show a 0.3 percent gain in February and flat sales in January.
(Excerpt) Read more at reuters.com ...
It’s always “unexpectedly.” Will they ever admit that they’re not good at predicting?
It’s the same with all liberals.
Their policies are SUPPOSED to work,
and when they invariably fail, it’s always “unexpected”.
I been doing my part to keep the economy up. Everyday, I hit WalMart at 6:45AM to be there to get whatever new ammo came in the night before. Today, 200 rds 45 ACP, and 40 rds 7.62X39, yesterday, 200 rds 45ACP and 100 rds 9mm, day before that 60 rds of 5.56 ball ammo, day before that 60 rds of Tula 223 ammo....get there early, and often.
“Unexpected” is the hazard of believing one’s own propaganda about a “recovery”.
The MSM slipped and blamed the cold weather for the decline in sales.
Not just bad at predicting, but reality is almost always worse than they predicted. It's like a Cubs' fan once again predicting a World Series victory this year.
Only for those who don’t visit stores in the flyover country. No doubt the Fifth Avenue shops in Manhattan and stores inside the beltway in the Washington area are bustling.
Another in a string of downside macro datapoints... another indication we are entering into the same “spring slowdown” pattern we have seen the last 3 years.
As a professional forecaster I learned early on that you will always miss every forecast you make. It's just the nature of the job dealing with so many unknown and uncontrollable variables. The key is to try and minimize the misses and pick up the longer term trends.
The MSM slipped and blamed the cold weather for the decline in sales.”
Cold weather in January and February. How can that be? Events such as winter weather in the winter just make predicting anything so difficult.
Economists that work in the private sector are? Who knew?
The “con” in Obamaconomy should’ve been highlighted in red.
Last winter was exceptionally mild which led to "unexpected" upside in 1Q. This year was significantly colder than was forecast. Weather has a significant impact on economic activity. Listen to any earnings call by FDX, UPS, any of the TL or LTL companies and you will hear it mentioned.
I’m trying to do my part, too. But when I went to Wal*Mart on my lunch break one day this week, the ammo shelves (six feet wide) were bare, except for some .270 Rem and a 20-round box or two of cheap Russian steel cased .223. I’ve got a .270 Browning so I supplemented my stock, but everything else was gone, and I was told that whatever came in that morning was gone by 8am. Thanks, Obama.
I was referring to the fact the Global Warming worshiping MSM noticed it was cold.