December Retail sales down 9.8% from December 2009.

Discussion in 'Economy' started by uscitizen, Jan 6, 2011.

  1. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    A gloomy retail sales report pushed Wall Street sharply lower on Wednesday as investors received another reminder that business was bad.

    The New York Times


    Floyd Norris: Nobody Is BuyingAt the close, the Dow Jones industrial average was down 248.42 points, or 2.9 percent, while the broader Standard & Poor’s 500 index was down 3.3 percent or 29.17 points. The technology heavy Nasdaq was down 3.6 percent or 56.82 points.

    Shares in Europe also were hit hard. The FTSE 100 in London dropped 4.9 percent. All of the major exchanges in Europe fell more than 4 percent.

    The government reported on Wednesday that retail sales fell for a sixth consecutive month in December, as Americans holstered their credit cards and cut back on spending, even as stores offered discounts of 80 percent to entice shoppers.

    Sales at department stores, restaurants, gas stations and a host of other retail businesses fell 2.7 percent last month — nearly double what economists had been expecting — and were 9.8 percent lower than sales last December, the Commerce Department reported.

    http://www.nytimes.com/2009/01/15/business/economy/15econ.html

    So this is a recovery in a consumer spending based economy?

    Just covering for Neubarth, had not seen him on here recently.
     
  2. loosecannon
    Offline

    loosecannon Senior Member

    Joined:
    May 7, 2007
    Messages:
    4,888
    Thanks Received:
    263
    Trophy Points:
    48
    Ratings:
    +264
    9.8% decline is actually pretty daunting. But what about online sales?
     
  3. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Good question? The article leads me to believe this is total retail sales. But it is not specific on the matter.
     
  4. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    Dow down around 47 points. Not to bad.

    I've seen much worse.
     
  5. loosecannon
    Offline

    loosecannon Senior Member

    Joined:
    May 7, 2007
    Messages:
    4,888
    Thanks Received:
    263
    Trophy Points:
    48
    Ratings:
    +264
    But how would they tally internet sales?
     
  6. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    the same way they do the rest of them? At least the major ones like Amazon and the ones operated by major retailers.
     
  7. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Stocks Tumble on Retail Sales Slump Twitter


    Published: January 14, 2009
     
  8. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Retail sales: Holiday sales up but December mixed for retailers - latimes.com


    The nation's retailers scored their best holiday season since 2006, but uneven spending and snowstorms on the East Coast disrupted December sales, which came in below expectations.

    Major chain stores posted a 3.1% year-over-year sales increase last month, according to Thomson Reuters' tally of 28 retailers. That was slightly below the 3.4% gain that analysts had expected and a surprising disappointment given earlier reports from MasterCard Advisors' SpendingPulse and other groups that pointed to strong consumer spending for the month.
     

Share This Page