Posted on 09/15/2009 11:44:04 AM PDT by RC one
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $351.4 billion, an increase of 2.7 percent (±0.5%) from the previous month, but 5.3 percent (±0.7%) below August 2008. Total sales for the June through August 2009 period were down 7.6 percent (±0.3%) from the same period a year ago. The June to July 2009 percent change was revised from -0.1 percent (±0.5%)* to -0.2 percent (±0.2%)*.
(Excerpt) Read more at census.gov ...
These figures are in nominal terms, not in real terms. The increase could be due to inflation. If they are, then in real terms, the quantity of sales for retail trade and food services has gone down.
If that’s the case, then perhaps the quantity of goods sold has increased, but then it would impact businesses in terms of profitability. Then again, they are trying to get rid of inventory, which also has a warehousing cost attached to it.
In another thread, someone noted that malls were filled, and it is true, but the question is: are they buying anything or merely taking a stroll? I think uncertainty about taxes and jobs are driving people to save, rather then spend.
I see lots of people in malls too but I don't see any packages. They could just be looking for a bargain they can really use as opposed to something they just want.
I think this part says it all frankly: “otal sales for the June through August 2009 period were down 7.6 percent (±0.3%) from the same period a year ago”
I don’t find it at all surprising that, during the height of summer, sales might go up a bit. That is completely unsurprising. The bigger picture tells the real story though.
I hear that. Lots of sales going on everywhere. And sometimes you can find a good deal on some item, but yeah, most people seem to be looking rather than buying. Although the food courts are doing pretty good.
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