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Surprise Retail Sales Disappointment... Again
Townhall.com ^ | February 14, 2014 | Mike Shedlock

Posted on 02/14/2014 7:12:35 AM PST by Kaslin

In a rare, back-to-back performance, retail sales in the US fell for the second month after a downward revision put December sales into the red.

Blame the Weather

In a blame the weather tactic Reuters reports Retail Demand a Bit Cooler.

While the two straight months of declining sales most likely reflected frigid temperatures, there were also signs of general weakness creeping in as online sales also fell.

Stripping out automobiles, gasoline, building materials and food services, so-called core sales fell 0.3 percent. Core sales for December were revised to only a 0.3 percent rise from a previously reported 0.7 percent advance. November's core sales figure was also revised down.

Core sales correspond most closely with the consumer spending component of gross domestic product.

The downward revisions to November and December core sales suggest that fourth-quarter consumer spending and economic growth were not as strong as initially thought.

GDP Estimates

(Excerpt) Read more at finance.townhall.com ...


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS:

1 posted on 02/14/2014 7:12:35 AM PST by Kaslin
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To: Kaslin

Bush’s fault


2 posted on 02/14/2014 7:15:26 AM PST by Lib-Lickers 2
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To: Kaslin

Just remember, none of this can be blamed on the policies of Obama. There is always someone else, or some outside force such as weather, to blame for bad economic news. The policies of this president can never be blamed for anything. (Sarcasm)


3 posted on 02/14/2014 7:16:57 AM PST by Dilbert San Diego (we')
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To: Kaslin

“Surprise” = UNEXPECTED

(drink up)


4 posted on 02/14/2014 7:17:16 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: Kaslin

Summer of Recovery 2014!!!

Unemployment should be down to 0.5% pretty soon now.

Or so they’ll claim.


5 posted on 02/14/2014 7:18:19 AM PST by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: Dilbert San Diego

I would LOVE to put the onus on an Obamabot and ask them just what Obama could conceivably do which would warrant impeachment, or, at least, his loss of their support.


6 posted on 02/14/2014 7:18:42 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: Kaslin

Dang! Somebody screwed up on operating the funny-number generator. But don’t worry, they’ll get it working again by next month.


7 posted on 02/14/2014 7:20:07 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: fwdude

http://www.zerohedge.com/news/2014-02-14/it-was-so-cold-january-even-internet-froze

Hard to blame the weather when online sales also dropped...


8 posted on 02/14/2014 7:21:46 AM PST by ltc8k6
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To: ltc8k6

Hey, they can blame the Obozocare website glitches... or something.


9 posted on 02/14/2014 7:24:36 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: Kaslin

Translation: Surprise = we haven’t figured out how to blame it on Bush yet.

Of course sales are down - with so many out of work what else could you expect? And it’s not going to get better until the current administration is dumped into the dustbin of history.

I am currently in Walt Disney World for our 25th anniversary - I would estimate it’s approx. 75% non-English speakers here this week. Many Americans just can’t afford it (and it’s a stretch for us as well - but you only have 1 25th anniversary).


10 posted on 02/14/2014 7:27:56 AM PST by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite it's unfashionability)
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To: Some Fat Guy in L.A.

OH! How fun! Happy Anniversary!


11 posted on 02/14/2014 7:39:33 AM PST by NEMDF
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To: Kaslin
The downward revisions to November and December core sales suggest that fourth-quarter consumer spending and economic growth were not as strong as initially thought.

Was the weather bad then, too? This was Christmas sales. There is always an excuse, as they dance around what is obvious to most of us here. Obama's policies, and Obama's policies alone are causing a weak economy.

12 posted on 02/14/2014 7:43:14 AM PST by fhayek
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To: Some Fat Guy in L.A.
I would estimate it’s approx. 75% non-English speakers here this week.

Based on my experience that's fairly typical.

13 posted on 02/14/2014 7:44:09 AM PST by dfwgator
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To: Kaslin

Global warming, that’s it.


14 posted on 02/14/2014 7:44:54 AM PST by bikerman (Obama! if his lips are moving he's lying.)
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To: Some Fat Guy in L.A.
Of course sales are down - with so many out of work what else could you expect?

The real estate market looks like it's a downturn, too.

15 posted on 02/14/2014 7:46:16 AM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Kaslin

“the downward revisions to November and December core sales suggest that fourth-quarter consumer spending and economic growth were not as strong as initially thought.”

Gee what a surprise.

They also note that on line sales slumped. Probably due to the weather too with all the power failures making ordering impossible.

I also read in a trade journal recently that GM cars are stacking up in the supply chain due to over production and that incentives will be increased to move them.


16 posted on 02/14/2014 7:50:51 AM PST by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: Kaslin

With Obozocare the law of the land, people see the rising cost of coverage and deductibles, people shop for food and notice the downsizing of various products though the price doesn’t downsize alone with it, people see the rise in electric bills, people are seeing the rise in property taxes, so who in their right mind would not cut back on spending?


17 posted on 02/14/2014 8:23:04 AM PST by Foundahardheadedwoman (God don't have a statute of limitations)
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To: Kaslin
"as online sales also fell."

Double hit....the general trend, without consideration of weather, has been up in online sales. And bad weather move ssales from stores to online....so retail is REALLY down.

18 posted on 02/14/2014 8:36:58 AM PST by cookcounty (IRS = Internal Revenge Service.)
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To: cookcounty

You guys just don’t understand economics, tht’s all. I heard on the local news this morning that the reason for this is because schools were closed for a few days because of the cold weather. Therefore the parents lost a few days of work and don’t have the money to buy a bunch of stuff.

The sad part is the news reader said it without laughing.


19 posted on 02/14/2014 8:49:46 AM PST by shelterguy (at theiur fundraining letters tell me.)
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To: ltc8k6

“Hard to blame the weather when online sales also dropped...”

Good catch!


20 posted on 02/14/2014 8:52:23 AM PST by vladimir998
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To: Foundahardheadedwoman

You make an interesting point on food packaging. Notice the new cereal boxes? They are a little taller and skinny. The proportions of lots of other goods has shrunk.
I am not sure if this is accounted for in the inflation estimates that are made by the government.


21 posted on 02/14/2014 9:06:27 AM PST by prof.h.mandingo (Buck v. Bell (1927) An idea whose time has come (for extreme liberalism))
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To: vladimir998

It is the weather, people are holding back to pay their energy bills. My electric/Nat Gas bill was over $400.00 last month.


22 posted on 02/14/2014 9:10:57 AM PST by UB355 (Slower traffic keep rigsupreme Splasht)
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To: ltc8k6

“Hard to blame the weather when online sales also dropped...”

I didn’t order as much from Amazon because it was too cold to open the front door and pick up the package...


23 posted on 02/14/2014 9:13:17 AM PST by PLMerite
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To: F15Eagle
Summer of Recovery 2014!!! Unemployment should be down to 0.5% pretty soon now. Or so they’ll claim.

Yup, and obviously the real reason why consumer spending is down is because so damn many people are working so many longer hours that they just don't have the time to go shopping or even put the money in the bank.

24 posted on 02/14/2014 9:24:52 AM PST by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: Mastador1

Muslim Democrat Keith Ellison will be along soon to tell us all how “good” it is.


25 posted on 02/14/2014 9:27:34 AM PST by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: NEMDF
OH! How fun! Happy Anniversary!

Thanks! We've had a blast this week, not having the kids to keep up with.......just doing what WE wanted to do.

26 posted on 02/14/2014 9:48:28 PM PST by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite it's unfashionability)
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To: dfwgator
Based on my experience that's fairly typical.

Just got back from Magic Kingdom for Valentine's Day. The percentage of non-English speakers was much higher, probably 90% or more. We felt like we were in the Tower of Babel.

27 posted on 02/14/2014 9:51:18 PM PST by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite it's unfashionability)
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