Posted on 07/15/2022 9:07:14 AM PDT by Oldeconomybuyer
WASHINGTON, July 15 (Reuters) - U.S. retail sales rebounded strongly in June as Americans spent more on gasoline and other goods amid soaring inflation, which could allay fears of an imminent recession but not change the view that economic growth in the second quarter was tepid.
Retail sales rose 1.0% last month, the Commerce Department said on Friday. Data for May was revised up to show sales falling 0.1% instead of 0.3% as previously reported.
“Padded by high savings and rising wages, American households are spending nearly as much money as they did earlier, but largely to keep up with higher prices, not to actually buy more stuff," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. "That said, today's report may cool talk of a near-term recession."
(Excerpt) Read more at finance.yahoo.com ...
Back to school buying
Both overpriced..............................
SEE! Rooters is explaining to us that everything is just Hunky-Dory under PINO Joe Biden.
Americans spending more on gasoline means they are traveling more than ever. /sarcasm
To get meaningful numbers during a period of inflation you have to reduce all numbers by the relevant rate of inflation to get apples to apples comparison.
Failing to do so is an old lefty trick.
Rooters is so Retarded. There is a huge difference between BUYING MORE of something and PAYING MORE for the same amount of something.
Spending more BECAUSE OF INFLATION is not a good thing, and it is NOT an indicator of growth.
DUMBASSES!!!
Exactly
BUT they MUST cover for the Democrats
SO they spin it any way they can to fool the sheep
Titanic records largest iceberg in Atlantic!
This article is somewhere between funny and criminal.
Rooters
Spending booming.
Boom
(on gas.....when have you ever heard this??)
People are getting in some purchases before prices increase even more. If you look at the PPI, it’s 11.3% for June. It’s a forward looking economic indicator, wholesale goods not yet sold to consumers.
Adjusted for inflation?
I mean real inflation, not the bogus number stew they cook up.
They didn’t buy more product, they just paid more for what they bought.🙄
What about the huge business truck rental companies in California and New York City are having.
Every day they must spin, spin, spin
North Korea never had it so good.
These spin doctors do it willingly.
That’s more of a service line not sales.
They bought fewer gallons of gasoline at MUCH higher prices....
What a crock of crap for a data workup.
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