Retail Sales Rise 0.5%, The Biggest Gain Since March

Retail Sales Rise 0.5%, The Biggest Gain Since March

U.S. retail sales in July posted their biggest gain since March, tempering fears that the world's largest economy might be slipping back into recession.

Sales climbed 0.5 percent, in line with analyst forecasts and following an upwardly revised 0.3 percent gain in June.

Consumer spending accounts for two thirds of U.S. economic activity, and the Commerce Department data released on Friday indicates the third quarter was off to a decent start.

WOO HOOOO! PLASMA TEE VEE HERE I COME!!!

reply to post by surrealist


Have you noticed how the government is releasing data lately since the markets downfall and ups and downs trying to show that we are in a positive economic phase and not falling?

I call it propaganda, first the jobs numbers, then the housing and now the retail.

Nothing to see here, the markets are peachy and the economy is just fine.

reply to post by surrealist


Most of that is back to school supplies and clothes which can easily cost a few hundred dollars per kid.

If its up in September that would mean something, but a small spike in July and August are no trend.

reply to post by surrealist


Bet you it's a lie and since the banks are'nt putting up the interest rates until 2013, they'll get you through increased insurance rates and bank fees.

I agree, school uniforms and supplies for start of school but also many Australians purchasing goods online to the USA because of the exchange rate but that should'nt pose a 0.05 increase but much rather a 0.02%.

reply to post by dolphinfan


I agree. Between the 15 supplies required (for kindergarten)..clothes and shoes the bill can be in the upper 100's per kid. We didn't get our "tax free" holiday this year either.

reply to post by surrealist


OMG.. that ALMOST beats month over month inflation! Oh wait, no it doesn't.....

Meaning negative actual profit growth.
Yay for stupid reports!

I concure with Margie.. the Gov is highlighting the best of the best reports ...... and they all still suck.

reply to post by surrealist

Retail Sales Rise 0.5%, The Biggest Gain Since March

hmm people shop like folk of hysteria sheeps and then a few days later they return the things they bought however i dont see how Retail Sales Rise 0.5% is good news.

reply to post by Agent_USA_Supporter


Actually your are right, my son's girlfriend works in retail for Dillard's and at least here in the south no only they return the clothes but after is been worn, she said that you can see the deodorant stains on it.

That is pitiful and it happens all the time.

Rockpuck

After the bad bond sell they government is doing anything they can to show that nothing is wrong with our economy.

Correct me if I am wrong, but wouldn't sales also rise due to the rising of prices? There has been no shortage of rising prices on absolutely everything the last few months.

I'm seeing inflation, back to school, and the twice a month paychecks coming into play. For all we know, folks cashed in their stocks and bought beans and bullets

Charting The WTF Economy

America's WTF (certainly not to be confused with Winning The Future) economy summarized in one easy chart.

People buying sh*t they don't need with money they don't have. It seems some people are still living in an extinct lifestyle.

Inflation will eventually drive the consumption economy to the graveyard.

Reserve status and economic imperialism are the only reason a nation can consume tremendous amounts without producing anything.

I live abroad, and so I only watch the news in snippets on the net. The Iowa debate reminded me how detached the US is from reality. Hearing those fools (excluding Dr. Paul) talk is terrifying. What is even more terrifying is that people listen to them.

I don't want the economic collapse of the US, but I am not sure we can change without it. That KGB agent was right. We are a demoralized society.

Don't worry. Buy something to make yourself feel all better.

Some of the apparent "disconnect" between confidence which is decreasing and spending which is increasing might be due to fear of future inflation. There was a joke make above about guns and bullets. For ATSers that is very possible. For others though, if they are somewhat aware, they may very well be making certain substantial purchases in advance of suspected inflation.

Been thinking about getting a new couch?
Know the kitchen floor needs doing?

Things at the top of the wants column but the bottom of the needs column are probably being purchased "before the price goes up".

Or maybe that's just how I justify my shopping!

reply to post by gwydionblack


Only if similar volume is maintained. But higher prices means people are buying less items.