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Retail Sales Fall Unexpectedly
.thestreet. ^

Posted on 06/11/2010 9:33:06 AM PDT by traumer

NEW YORK (TheStreet) -- Retail sales dropped unexpectedly for the first time in eight months in May, data that will likely reignite investor fears that a consumer recovery remains tepid and reinforcing the possibility of a double dip.

The Commerce Department said Friday that sales for the month tumbled 1.2%, even as economists forecast a 0.2% gain. This follows a 0.6% increase in April.

This is the first decline in retail sales since September 2009, when they tanked 2.2%. On a year-over-year basis, sales grew 6.9%.

Sales were particularly hurt by hardware stores, auto dealers, gas stations, department and clothing stores.

Auto sales dropped 1.7%, according to the Commerce Department. Ford(F), meanwhile, reported a 19% surge in sales for the month, while General Motors saw a 32% surge for its Chevrolet, Buick, GMC and Cadillac brands.

General merchandise stores, which include discount giants Wal-Mart(WMT) and Target(TGT), sank 1.1%, which was the biggest decline since December 2008.

There were some sectors that actually fared well during the month, including furniture, which rose 1%, and electronic and appliance stores, where sales advanced 0.6%. Health and personal care, Internet retail sales, sporting goods, hobby, book and music stores, restaurant and bars and food and beverage stores, also posted some gains.

(Excerpt) Read more at thestreet.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: obamanomics; theresthatwordagain; unexpected; unexpectedly
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To: traumer
We need to unexpect the Unexpectedly, even if it's very predictable...
21 posted on 06/11/2010 9:50:02 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: AngelesCrestHighway
These idiots couldn’t predict the sun coming up in the morning....

Or an eruption of flatulence after a Boston Baked Bean dinner.

22 posted on 06/11/2010 9:50:09 AM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: ezfindit
No, I'M in charge: President Obama finds he's the one that's being taken for a walk by the White House dog
23 posted on 06/11/2010 9:50:45 AM PDT by traumer
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To: traumer

“Unprecedented”....I’m sure? [/s]


24 posted on 06/11/2010 9:50:54 AM PDT by DCPatriot ("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
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To: traumer
Barack Urkel: "Did I do that??"
25 posted on 06/11/2010 9:50:54 AM PDT by Nevermore (...just a typical cracker, clinging to my Constitutional rights...)
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To: SonOfDarkSkies
Retail Sales - Graph through May 2010
26 posted on 06/11/2010 9:52:11 AM PDT by Cboldt
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To: sten
i thought of this response and googled for the picture. where did i find it? complete with quote... from 6 months ago... FR. at least the 'administration' is consistent.

You're welcome. :-)

27 posted on 06/11/2010 9:52:34 AM PDT by KarlInOhio (I am so immune to satire that I ate three Irish children after reading Swift's "A Modest Proposal")
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To: traumer

Unexpectedly unexpected.


28 posted on 06/11/2010 9:52:42 AM PDT by Army Air Corps (Four fried chickens and a coke)
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To: KosmicKitty
It’s time for the “Unexpected” Friday Economic Announcement

Well, I for one expected the unexpected announcement.

Here in sunny California, all one needs to do is drive around and look at the former businesses, and the sparse patronage at those businesses remaining.

I wish I had more positive observations because many of my friends are getting (economically) clobbered; however, there never was any observable emergence from the Obama recession. Only massive governmental and media cheerleading.

.

29 posted on 06/11/2010 9:54:52 AM PDT by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: traumer

Unexpectedly


30 posted on 06/11/2010 9:55:15 AM PDT by Grunthor (Getting married, T minus 15 days.)
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To: Principled
Someone should start an “unexpectedly” ping list.
31 posted on 06/11/2010 9:56:37 AM PDT by outofstyle (Anti-socialist)
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To: traumer

DRINK!


32 posted on 06/11/2010 9:57:24 AM PDT by OB1kNOb (When injustice becomes law, resistance becomes duty. - Thomas Jefferson)
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To: traumer

Pack Leader in Chief


33 posted on 06/11/2010 9:58:50 AM PDT by outofstyle (Anti-socialist)
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To: Cboldt

I just meant that as a joke...the chart is out of date.


34 posted on 06/11/2010 9:59:22 AM PDT by SonOfDarkSkies (I never saw a wild thing sorry for itself...)
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To: traumer

(looks left) Let me be clear.
(looks right) These unexpected reports...
(look left) need their asses kicked
(looks right) The buck stops here
(looks left) but the previous administration left me with this problem


35 posted on 06/11/2010 9:59:23 AM PDT by GreenAccord (Bakon Akbar!)
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To: AngelesCrestHighway
Yes, the headline could be, "Large Solar Mass Unexpectedly Rose in the Eastern Skies this Morning!"

Underreported unemployment, low paying Census jobs, record personal and business bankruptcies, a shrinking economy, and these fools were expecting a good report????

Folks, this feels like the end of the tech bubble, when all the ridiculous tech companies would throw lavish parties for employees every Friday afternoon....all for the appearance of things going swimmingly. Except the checks to the caterers were bouncing and then payroll checks to employees. Then everyone's stock options were "unexpectedly" not worth the paper they were printed on.

The lamestream media is sugar coating everything. Forget Double Dip....that is a treat you can get at Dairy Queen. Everything is artificially better right now through the end of the year as people rush to get all their income they can into 2010...when the Bush Tax cuts expire any breath of recovery will be crushed.

36 posted on 06/11/2010 10:00:05 AM PDT by ScottinSacto (W.W.M.R.D.? - What Would Mitch Rapp Do?)
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To: traumer

When people smarten up and quit buying with borrowed money sales should drop another 50%!!!!


37 posted on 06/11/2010 10:00:07 AM PDT by dalereed (in)
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To: dalereed

That is what the people I know are doing....not using borrowed money...only buying with cash. You are right though. As more people go bankrupt and lose their credit cards, the figures will become worse... and then where does the obamanation and his demons go for their figures??!


38 posted on 06/11/2010 10:08:22 AM PDT by bareford101 (Be loud! We have nothing – NOTHING - to apologize for in fighting for our Country!!)
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To: bareford101

“then where does the obamanation and his demons go for their figures??!”

He might try used toilet paper!


39 posted on 06/11/2010 10:17:54 AM PDT by dalereed (in)
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To: calex59
Not to mention his new middle name “unprecedented”.

Barack Unexpectedly Unprecedented Unsustainable "False Choice" Obama.

Yeah, that's about it.

40 posted on 06/11/2010 10:18:06 AM PDT by drangundsturm
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