Most likely due to the lack of Hurricanes this year.
Posted on 09/14/2007 7:20:03 AM PDT by Hydroshock
NEW YORK (CNNMoney.com) -- Retail sales saw a smaller-than-expected increase in August while retail sales excluding auto purchases fell in the month, the government reported Friday.
The numbers are likely to fuel worries that American consumers are beginning to feel the pressure of the housing and credit market crunch.
The Commerce Department reported that overall retail sales last month rose 0.3 percent. Economists surveyed by Briefing.com had forecast a retail sales increase of 0.5 percent.
However, July retail sales were revised higher to a 0.5 percent gain versus an initial reported gain of 0.3 percent.
Stripping out volatile auto sales, retail sales actually fell 0.4 percent compared to a revised 0.7 percent rise in August. Economists, on average, had expected sales excluding auto to increase 0.2 percent for the month.
The report showed that building materials and gasoline station sales were among the biggest drags to overall sales growth last month.
(Excerpt) Read more at money.cnn.com ...
Most likely due to the lack of Hurricanes this year.
The NHC is doing the best it can to cook up something to match the predictions, come on give them a break.
Americans SHOULD cut back. It’s about time to abolish the sinful and gluttonous life style of excessive spending.
Or maybe not...
A capitalistic society is naturally consumer based...that’s just how money flows...
If we all saved every dime...or lived like the Amish...both large and small business would dry up and the economy would tank.
However, I do agree that we should all spend within our means...
No way you can run off 12 million people without impacting retail sales numbers. Walmart needs stores in Mexico.
Ha...Mexicans spend the money that Americans won’t...
Winter is descending upon us. Could be tomorrow. Provisioning for the season is complete.
A wise man will set store in the fat times for the thin.
The climate here tends to teach that right away to the newcomers. Crazy we might be, but not stupid.
maybe it’s because people are finally figuring out that pretty much everything they can buy now is CRAP filled with lead and other junk...
Just noticed your tag. Are you a Roman or a Sigma Chi, out of curiosity?
How do you propose to do that, Comrade?
Through self reflection and prayer. Look to God, not to materialism to fill the gaps in you.
Historically, America has produced far more heroism and altruism during economically “dry” times. Just ask your grandparents what’s important in life.
We don’t need 3000sf homes, giant cars, HDTVs, 50 Xmas gifts, to keep this economy afloat.
We should’t save every dime, I agree.
“Golden Mean”
August was intensely (unusually) hot across the American South. Perhaps more Southerners didn’t feel like working on their houses or driving much anywhere in the intense heat. More telling is this paragraph:
“Americans have a dim view of their current financial situation and an even bleaker view of their future prospects,” he said. “Although some of the factors weighing on consumers could dissipate in coming weeks, the decline in confidence is consistent with our view that U.S. economic growth will moderate through the remainder of the year.”
“A bleaker view of their future prospects” indicates that most Americans are trying to save as much money as possible to buffer the severe suffering of the upcoming Hillary Rodham Clinton presidency, which most enemy-propaganda outlets see as inevitable.
Fair enough, but you used the term “abolish,” that implies that it’s not voluntary.
"The problem is clear: This isn't a nation of savers. In the past two years, America's personal savings rate reached its lowest level since the Great Depression. And in comparison to other industrialized countries, the United States ranked second to last in personal savings."
http://online.wsj.com/article/SB118964627975525938.html?mod=googlenews_wsj
Salt Lake Tribune, United States - Sep 2, 2007 Americans have coped with their declining pay by going deeper in debt: The personal savings rate has been at the lowest level since the Great Depression. ...
Inland Valley Daily Bulletin, CA - Sep 12, 2007 Add to that the fact that the US has had a negative savings rate recently for the first time since the Great Depression, and it's ominous. ...
Good points. Sometimes success is measured in what you can do without. But we better start saving something. There have always been those who didn't plan, didn't save and when the SHTF, they have to depend on someone else. The problem is that group is now much larger than the rest of us.
How many months, with NO income, do you suppose the average family/person is prepared to survive?
There ya go! A little more self reliance would do us all good.
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