Skip to comments.Retail sales fall short in August, temper Fed speculation
Posted on 09/13/2013 6:10:30 AM PDT by Perdogg
U.S. retail sales rose less than expected in August even as demand increased for automobiles and other big-ticket items, the latest sign that economic growth slowed in the third quarter.
The Commerce Department said on Friday retail sales increased 0.2 percent last month as Americans bought automobiles, furniture and electronics and appliances.
However, they cut back on clothing, building materials and sporting goods.
(Excerpt) Read more at cnbc.com ...
Don Luskin was on Kudlow and Co Monday night saying that we were going to have a quarter next year with 10% growth. I nearly fell off the elliptical trainer laughing so hard.
Just a thought.
I bought a 2013 car even though I don’t plan on driving much. Why? The way the world is going, quality big-ticket items might be a smart investment. Maybe people thought that way last month. If the world is headed toward WWIII, it might make sense to buy important things and not waste money on less crucial purchases.
Just a thought.
Interesting that clothing purchases are down, particularly since most families should have been getting the kids ready to go back to school. Texas has a tax free weekend especially for this purpose. Would like to see this year’s sales compared to previous years and then compare to these numbers.
I know it's criminal the BS they peddle.
Reminds me of telling a starving man.. "hang on for awhile longer because we're soon gonna be sitting down to a dinner table with Turkey and ALL the trimmings. In the meantime, hang on!
Car dealers need to move inventory, so they are offering no money down car loans with little or no income qualifications. IAW auto makers are offering subprime loans for cars. Any movement in our consumer economy is still based on debt.
I agree with you.
I’ve been strongly contemplating making the last few big ticket purchases.
And when that growth prediction fails to materialize, he’ll cite some “black swans” and other unforeseen economic anomalies that affected his forecast. Then, he’ll give even more preposerous predictions.
Its all about maintaining their visibility in a crowded field of “experts”. The financial talking heads only influence gullible “investors” who are too lazy to do their own research.
The one thing these prognosticators are very good at is back trackking under cover of their own smoke screens.
What I was giving is a rationale why new car sales are up while most retail sales didn’t fare well in August.
Texas has a tax free weekend especially for this purpose.
We’ll all be Texans eventually. ;)
Exactly. It is a bogus economy. There is virtually no wealth being generated, only debt. Everything from households to government is running on borrowed money that cannot be paid back unless genuine economic growth occurs.
I did my share... I bought another high dollar gun...
Well all be Texans eventually. ;)”
Drove into the city this morning at 6 a.m. and took me 45 minutes to make the 18 mile trip. Thought everyone had already moved here. LOL
Today is the 5th anniversary of the landing of Ike. Thankful for so many reasons that it wasn’t this year. Putting all these people on our highway system at once is like putting three pounds of something really nasty in a two pound bag!