Consumer confidence falls sharply

[KissMy]

Consumer confidence falls sharply

Consumer Confidence Index fell almost 11 points to 46 in February, down from a revised 56.5 in January. Analysts were expecting only a slight decrease to 55.

The increasing pessimism is a big blow to hopes that consumer spending will power an economic recovery. Economists watch the confidence numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity.

The February reading is a long way from what's considered healthy: A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

Walmart misses Q4 sales forecast, expects tough Q1

Walmart has reported lower-than-forecast sales figures for its fiscal fourth quarter, and said it expects its US outlets to have a “challenging” first quarter. For the quarter ending 31 January, revenue rose by a lower-than-expected 4.5% to $113.7bn, even as net profit rose by 22% to $46.3bn ($1.21 a share). Excluding a tax benefit and a restructuring charge, profit amounted to $1.17 a share.

However, US same-store sales were down 1.6% on the year, beating the company’s own forecast of sales not declining by more than 1%. Walmart said sales were affected after it cut prices to attract shoppers living from paycheck to paycheck.

 

[Nonelitist]

Obamaites will claim this is due to Bush, but just days ago were claiming that the economy was recovering due to Obama.

Hypocrisy and dishonesty on display

 

[KissMy]

Thanks to Obama a smaller percent of the population is now employed than during Bush 1, Clinton, or Bush 2.

Welcome Back Carter!!!

 

[Gadawg73]

Best way to be employed is to accept a job.
Any job.
We saw the hundreds of men dressed in suits and brief cases at the jobs conference last week here.
Funny thing was most of the jobs were hands on work. Most of the suits declined those.