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Retail Sales Unexpectedly Rebound in January

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posted on Feb, 12 2009 @ 07:57 AM
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Retail Sales Unexpectedly Rebound in January


www.cnbc.com

Sales at U.S. retailers unexpectedly rebounded in January, government data showed on Thursday, likely boosted by post-holiday discounts and providing a glimmer of hope for the recession-hit economy.



The Commerce Department said total retail sales rose 1 percent, advancing for the first time in seven months, after slumping by a revised 3 percent in December, previously reported as a 2.7 percent decline.

January's increase in retail sales was the biggest since November 2007.

(visit the link for the full news article)




posted on Feb, 12 2009 @ 07:58 AM
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Guess this isnt the news Reinhardt was looking for. Looks like his predicion was dead wrong. I am sure he want expecting an increase in retail sales. Curious to see how the markets end up at the end of the day. Just thought I would post some positive news, seeing 99% of post on this board are doom and gloom.

www.cnbc.com
(visit the link for the full news article)



posted on Feb, 12 2009 @ 08:08 AM
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I dont know. If we're talking about the lowest common denominator spending at WalMarts then we're probably talking about those people who jumped for joy and exclaimed "Obama will pay for my gas!!"

I wouldnt be surprised if the spending was all morons figuring on free money coming their way. Which of course just means it's more of the same that got us where we are today.

An economy based on spend-happy idiots is like building a house on a muddy slope.

Until I see a national savings rate of at least 20% I'll remain pessimistic and a little mad.

Every time a credit card is swiped through a reader and every time some fry cook making 15K/year gets a 300K loan my savings loses value. Punishment for being responsible.



posted on Feb, 12 2009 @ 08:14 AM
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Have to give it to the after Christmas sales junkies, after all they are expecting Obama to give them a stimulus rebate tax check this year.

Nothing better than a new president full of hopes to boost consumer confidence, After all Obama is going to fix it all.



posted on Feb, 12 2009 @ 08:19 AM
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reply to post by tide88
 


Reinhardt has said he's not an expert on retail. He's more interested in unknown medical stocks.

I laugh at people who are ecstatic about this news. It's not like this 1% increase added some jobs which added to more spending which added more jobs... You guys are funny.



posted on Feb, 12 2009 @ 08:43 AM
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reply to post by tide88
 



It's only one data point. When sales increase for 4, 5, or 6 months, then you have a trend and an indication that we may be coming out of this...but don't look for it though. The criminals that are in charge of the country now are determined to destroy the economy, and the U.S. as a rusult. It's been their goal since the 60's.



posted on Feb, 12 2009 @ 08:45 AM
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reply to post by eldard
 


I dont think anyone is ecstatic about this news, but at least it is something positive. We need a boost in consumer confidence. Will this do it? Highly doubful. But at this point any news that isnt negative is good. Whatever the reason for it be. Although it doesnt look like it has helped the markets at all. Currently down 150 points.



posted on Feb, 12 2009 @ 08:46 AM
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Originally posted by LiquidMirage
reply to post by tide88
 



It's only one data point. When sales increase for 4, 5, or 6 months, then you have a trend and an indication that we may be coming out of this...but don't look for it though. The criminals that are in charge of the country now are determined to destroy the economy, and the U.S. as a rusult. It's been their goal since the 60's.


Forclosures are also down 10%. We can only hope that maybe things will be bottoming out in the next 6 months. I can hope cant I?



posted on Feb, 12 2009 @ 08:55 AM
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I do HOPE you guys realize that the "one percent" was for the single most profit producing month of the year... you do right?

Okay lets put it this way 1% amounts to the billions in loses that retailers suffered. Due to having cut back the prices 50% or more on ALL the stock they had just to make enough money to make it 2 more months.



posted on Feb, 12 2009 @ 08:59 AM
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This was more than likely due to all the price cuts that happened after Christmas. Retailers had to slash prices on stock that didn't get sold during the holidays, and consumers snatched a lot of it up.

I doubt very seriously that these numbers will hold this month. Hope they do, but I doubt it.



posted on Feb, 12 2009 @ 09:00 AM
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Are they buying American made??




posted on Feb, 12 2009 @ 09:04 AM
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reply to post by tide88
 



They may say that, but it is not ACTUALLY TRUE!


"The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $344.6 billion, an increase of 1.0 percent (±0.5%) from the previous month, but 9.7 percent (±0.7%) below January 2008. Total sales for the November 2008 through January 2009 period were down 9.5 percent (±0.5%) from the same period a year ago. The November to December 2008 percent change was revised from –2.7 percent (±0.5%) to –3.0 percent (±0.2%).

Retail trade sales were up 1.1 percent (±0.7%) from December 2008, but were 11.0 percent (±0.7%) below last year. Gasoline stations sales were down 35.5 percent (±1.5%) from January 2008 and motor vehicle and parts dealers sales were down 22.2 percent (±2.3%) from last year. "

Just another example (we can do one of these every day...) of how 'happy-talk' media reports things: Most are saying retail up 1%. BUT if you take the government numbers for January of this year, 344,649-million and divide by January a year ago, 381,673, you'll see that retail is down 10% year-on-year...but it's even worse because you can add in what? 5% inflation, so it's really down 14-15% year-on-year? who are these finance writers so devoid of numeracy?



posted on Feb, 12 2009 @ 09:05 AM
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reply to post by FlyersFan
 


Thanks, Flyers for bringing that into the debate, I guess many forget that any consumer confidence and spending is actually going into the coffers of our trade partners.


The truth is that American consumer can not longer afford to keep the economy afloat like it has been doing for the last 5 years thanks to credit and debt.

Now America can no longer support consumerism, but also that consumerism goes to oversea.



posted on Feb, 12 2009 @ 09:06 AM
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LOL! This is the economic equivalent to when your boyfriend sleeps with you right before he dumps you. It means nothing.

The prices are rock bottom, people are taking advantage and trying to squeeze the most out of every dollar. For the retailers, much of what they are selling is at a loss. The bill will come due by the end of the first quarter.

Take a good look at the quantity of merchandise on store shelves - low inventories with very little restocking. There is no business to business credit for placing orders or covering payroll.

Right now retailers are preparing and/or implementing shock and awe strategies for how to survive past the first or second quarter. Many won't.



posted on Feb, 12 2009 @ 09:14 AM
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I expect this for the next few months as people are and have gotten back income tax returns.

I don't know how many people I've had tell me they're getting to the tune of 7 thousand back on taxes claiming grandkids.

Also you have to figure people are out buying t.v.s also for the big change over.

After the tax money is spent we'll probably be right back where we started at.

Just my thoughts



posted on Feb, 12 2009 @ 10:26 AM
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Originally posted by tide88

Forclosures are also down 10%. We can only hope that maybe things will be bottoming out in the next 6 months. I can hope cant I?


Sure you can hope but I think it should be a cautious kind of hope.

The problem with the current government actions is that they are trying to treat the symptoms instead of the causes of the disease. What we need to do is cut spending across the board, not just to balance the budget, but to spend less than we take in.

We also need to rebuild our manufacturing base and start producing real things...physical products that other people in the world will buy. We need to become a net exporter of physical goods instead of a net importer. The only thing we export anymore is money! Becoming an exporter nation will bring money back into our country instead of continuing to export money as we buy everything we consume from everyone else in the world.

Also, we need to produce an environment conducive to business growth and foreign investment buy lowering tax rates and curbing the extremist environmental standards that are killing business in the country. I'm not taking about letting the country become a wasteland but some of the environmental standards that have been crammed down our throats in the past 30 years are responsible for our current economic plight.

Things will not get better in the long term without intelligently addressing these concerns but you may hope all you want, as long as it makes you feel all warm and fuzzy inside.



posted on Feb, 12 2009 @ 10:30 AM
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reply to post by napayshni57
 


Oh, its going to get really good, after the tax cuts and the tax returns, see the GDP is going to flunk and reach highs never seen before as the America consumer junkies spend in foreign goods propping economies like china..

The money will be lost oversea.



posted on Feb, 12 2009 @ 10:41 AM
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Unexpectedly, huh? I seem to remember Rockpunk saying this was exactly what was going to happen.

Something about how retailers always cry 'sky-is-falling!' over holiday sales, then announce 'better than expected!' earnings in January, to ride the bump back up from lowered expectations.

Again, as previous posters have mentioned, best to look at the actual data, rather relying on self-serving announcements.



posted on Feb, 12 2009 @ 08:01 PM
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Originally posted by tide88
reply to post by eldard
 


I dont think anyone is ecstatic about this news, but at least it is something positive. We need a boost in consumer confidence. Will this do it? Highly doubful. But at this point any news that isnt negative is good.


It's useless. It just gives people false hope. Which would cause them to become even more unprepared than they already are for the # that's about to blow.



posted on Feb, 12 2009 @ 08:02 PM
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reply to post by tide88
 


People are getting their tax refunds,



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