US economy appears weaker as retail sales slump

The retail sales report says that June 2012 showed a downward trend for a 3rd straight month.

This hasn't happened for almost 4 years !!!!!!!!!!

It appears that whatever economic "growth" exists, it's not much and getting worse.

They keep telling us that the "recession" ended a couple of years ago !!!

Can't prove it by me

Too much talk and not enough action if ya ask me.

Where's the jobs ?

Where is all that money going ?

Who has it now ?

Hmm.


AP - Jul 16, 1:52 PM EDT (long, informative article)

WASHINGTON (AP) -- The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.

The report led some economists to downgrade their estimates for economic growth in the April-June quarter. Many now think the economy grew even less than in the first quarter of the year, when it expanded at a sluggish 1.9 percent annual rate.

Spending in June fell in nearly every major category - from autos, furniture and appliances to building, garden supplies and department stores. Overall, retail sales slid 0.5 percent from May to June, the Commerce Department said....[story continues]

US economy appears weaker as retail sales slump

Every summer around July 4th week the stocks are low, and it is time to buy. People who have kids go on vacation. They save their money up for this, they plot and plan months in advance. People sell off their dud stocks and go on vacation. So where is the money going? Rental houses by the beach, mountains, and in foreign countries.

The hotels, airlines, gas stations, restraunts, and grocery stores end up with the money. Its all going to the tourism services industry. Has anyone seen how much the beach houses that have eight bedrooms and can hold an entire relative group? It is like $6,000.00 per Week! A meager house on the tidal marsh can cost a thousand dollars for a few nights. The money is being spent on adventure, and services, not product stuff. Other money gets spent on summer camps, pool memberships, boating expenses, insurance, fun summer outings for the day like fishing or horseback riding, eating out with the kids etc..

Don't worry the demand that humans have for products to live on will always be there and with the population increasing this isn't likely to come to an end. I would pick out a good stock to hold for a while on a long term investment. Steel stock for instance. Eventually, they will need to build new bridges and roads, and cars. Nothing lasts forever and will need updating and replaced.

Tell it to the Republican Party please.

They are ones stalling and holding the economy hostage, thanks to the patronage to the rich elites.

And I thought the Republicans claimed that giving tax breaks to the rich elites would help the economy with jobs? So where are the jobs to circulate wealth within America? The rich HAD BEEN and are STILL given tax breaks today.

2012 may not be the end of the world, but it will MOST CERTAINLY be the end for the Republican Party if it continues to screw with the american economy. Not good to make educated americans angry and starving.

Ive been in retail long enough and at a level where these numbers actually get looked at (multi-unit management)

To know this is not a good sign.

In general retail P&L is tighter than people think, a long enough decline and companies will simply start closing locations, which hits the economy as job losses...

I believe it. And inflation is ridiculous and rarely discussed in MSM. I went to buy some eyeliner at the drug store the other day and price across the board was $8 - $9! For a pencil! That used to cost $3.99! What would be the explanation for a doubling in price? And it seems whenever I go to the grocery store, items are just a wee bit more expensive. In packaging that's... a wee bit smaller. Yet, everyone is so distracted, that there are no protests or demands for answers. Society as a whole has been accepting less and less for more and more. And I've been hearing people make excuses for such subpar quality or content!

Sorry. Wandering off topic. But to address your post... the curious thing, is whenever I pass by a mall or shopping center, they are filled to the brim. Granted, shopping is America's Favorite Pastime, but plenty of folk are heavy with purchases and whatnot. The frequency of shopping sprees certainly doesn't appear to be waning.

Another factor is that everyone is buying and selling used products through Craigs List, the Trader Papers, Newspapers, ebay, Swap.com. People are getting more creative about getting a deal in this inflationary period.
I am so tired of all the products being shrunken down or minimalized and the prices inflated! Garage sales are more popular too now. The line of women on Saturaday reselling their kids clothes to Once Upon a Child or Platos Closet is long! There was a consignment shop I went into in Sarasota Florida once that had every parking spot filled with the rich old people! You couldn't get up to the shelves to look at the used jewlery the women were blocking it all off! I thought I saw a Paul Goughin painting in there, I went back the next day to see if it was real, it had sold! Everyone is trying to get it for less, even dvds can be bought at the pawn shops for 3 dollars. I think traditional retail is struggling, no one wants to pay inflationary prices!