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I thought our economy was strong as we fight with resolve.
http://www.marketwatch.com/news/story.asp?guid=%7BE2D5F2BC%2DE871%2D48BB%2DB513%2D6009DB1E5E2A%7D&siteid=mktw&dist=
Guess not. Retail sales plunge 2.1% in August Biggest drop in 4 years; auto sales tumble record 12% By Rex Nutting, MarketWatch Last Update: 11:06 AM ET Sept. 14, 2005 E-mail it | Print | Discuss | Alert | Reprint | WASHINGTON (MarketWatch) -- U.S. retail sales fell 2.1% in August, the biggest decline in nearly four years, as auto sales plunged a record 12%, the Commerce Department estimated Wednesday. MARKETWATCH TOP NEWS U.S. stocks mixed; energy supplies, data in focus Airline sector bucks bankruptcy fears U.S. August retail sales sink 2.1%, more than expected Lehman profit surprises with 74% rise Baidu.com shares tumble on broker valuation concerns Free! Sign up here to receive our Midday Market Report e-Newsletter! TRADING CENTER TRACK THESE TOPICS My Portfolio Alerts Column: Economic Report Create Get breaking news sent directly to your in-box Create a Portfolio | Create an Alert Excluding autos, retail sales increased 1%, with half of the increase due to higher sales of gasoline, reflecting higher prices. Excluding both autos and gas, retail sales increased 0.5%, with gains across most store types. Read the full report. Economists were expecting a large decline in retail sales. The average forecast in a MarketWatch survey called for a 1.2% decline. Excluding autos, sales were expected to rise 0.6%. See Economic Calendar. In July, retail sales increased 1.8%, with sales excluding autos up 0.5%. Treasurys were nearly flat after the report, with the yield on the 10-year note falling to 4.13% from 4.14% on Tuesday. See Market Snapshot. Automakers had boosted sales in June and July by offering sweetheart deals, but those gains were reversed in August even though some of the bargains remained.. "After a two-month vehicle shopping spree, American garages are now full," said Leslie Preston, economist for CIBC World Markets. Retail sales are up 7.9% in the past 12 months. Excluding autos, sales are up 9.4%. Excluding gasoline, sales are up 6%. The figures do not include price changes. The government could not estimate the impact of Hurricane Katrina on August sales. The storm hit southern Florida before slamming into the Gulf Coast on Aug. 29. The impacted metro areas along the Gulf Coast account for 1.2% of U.S. sales. The Commerce Department estimated August sales for those companies that were unable to report monthly figures. Such estimations for missing data are routine and are a major reason why the initial retail sales figures often are revised. In a separate report, the Federal Reserve said industrial production increased 0.1% in August, with Katrina subtracting 0.3 percentage points from growth. See full story. The August retail-sales report shows U.S. consumers were maintaining robust spending levels despite the large increase in gasoline prices. "These results cast more cold water on the notion that if nondiscretionary spending on energy swells, it must crimp discretionary spending. It hasn't," said Ken Mayland, chief economist for ClearView Economics. "Consumer spending has continued to advance strongly" even as gas prices have doubled over the past two years. Since the storm, however, retail-chain stores have reported a softening of demand, which they attribute to the loss of discretionary income from higher gas prices and some consumer caution. Softness in department stores, restaurants and clothing "suggest higher gasoline prices eroded some categories of discretionary spending in the month," said Joshua Shapiro, chief economist for MFR. By store type, sales were mixed in August. Furniture-store sales increased 0.9%, while building-material store sales increased 0.5%. Electronics-store sales rose 0.3%. Gasoline station sales increased 4.4%. Sales at general-merchandise stores rose 0.3%, while clothing store sales were flat. Sales at stores offering health and personal care goods jumped 1.2%. Sales at food stores rose 0.6%, but restaurant sales were flat. Sales at leisure-time goods stores rose 0.5%. Nonstore retailer's sales rose 1.8%. |
#2
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Nothing like the recession Your boy Clinton left us with......that Bush turned around into a strong economy....
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Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
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Are you sure you haven't met my first wife?
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89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
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Quote:
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#5
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Quote:
__________________
89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
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Quote:
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
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You know what really stinks. I have BHD's posts blocked I have to still see them when they are part of a reply. Ick. A total id10T - for sure. |
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__________________
89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
#9
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Sounds like mister name caller is a bigger version of what he likes to call others...
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Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#10
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Quote:
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#11
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Quote:
__________________
89 300E 79 240D 72 Westy 63 Bug sunroof 85 Jeep CJ7 86 Chevy 6.2l diesel PU "The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." Marcus Aurelius |
#12
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Quote:
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#13
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__________________
1994 C 280 117.5k, White (Good as new) 1997 Toyota Camry 149k Miles (Not so pretty anymore) 1990 190e 2.6 95k (Sold-Should not have) 1981 240d Stick ??? Miles...sold |
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Only small minds need to ignore people so they don't have their precious narrow minded ideas disturbed...
Just proves my point about the left. ignore away....
__________________
Proud owner of .... 1971 280SE W108 1979 300SD W116 1983 300D W123 1975 Ironhead Sportster chopper 1987 GMC 3/4 ton 4X4 Diesel 1989 Honda Civic (Heavily modified) --------------------- Section 609 MVAC Certified --------------------- "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you." - Friedrich Nietzsche |
#15
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1992 300D 2.5T 1980 Euro 300D (sadly, sold) 1998 Jetta TDI, 132K "Rudy" 1974 Triumph TR6 1999 Saab 9-5 wagon (wife's) |
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