Posted on 06/11/2010 7:31:16 AM PDT by Oldeconomybuyer
(Reuters) - Sales at retailers unexpectedly fell in May for the first time since September following a record slump in purchases of building materials, adding to fears the economic recovery was losing some steam.
Friday's report follows last week's data showing a sharp slowdown in private hiring in May, but analysts still saw little risk of the economy slipping back into recession.
"The report is not evidence that the economy is getting ready for a double-dip or that consumers, facing headwinds of double-digit unemployment and bank credit restriction, are taking their ball and going home," said Chris Rupkey, chief financial economist at Bank of Tokyo/Mitsubishi in New York.
Total retail sales dropped 1.2 percent after rising 0.6 percent in April, the Commerce Department said.
(Excerpt) Read more at reuters.com ...
DRINK!!!!!
People aren’t spending money because they don’t have any. Because money’s too tight to mention
“I don not think that word means what you think it means.” Inigo Montoya.
Can't "slip back into" something that you've never left.
If Zero and his lame brained Democrat cronies pass Cap and Tax and let the Bush tax cuts expire the US will have a full-blown depression going before the end of 2011.
“UNEXPECTED”
The usual Reuters cover-up.
Actually exactly as the radicals and Obama have planned: the destruction of capitalist America is right on schedule, along with the hated middle class.
Unexpected!
*drink*
that consumers, facing headwinds of double-digit unemployment and bank credit restriction, are taking their ball and going home,” or shorter hours, wage clawbacks and stuff like that
nope,,,none of that means anything at all. just move along and buy something...nothing to see here....
jeezzzz
I can see the signs of economic recovery all around! I see businesses that continue to close. I see more vacant commercial property and more vacant houses. I see more going out of business sales. The economy is recovering! Who are you going to believe, The One or your lying eyes?
"You killed my country.....prepare to die!"
I believe the preferred Marxist term is petty bourgeoisie.
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