U.S. Retail Sales Unexpectedly Fall for Second Month

"unexpectedly" really, sales tax receipts were down by how much in California, which contributes 13% of the nation's GDP? Dean Baker over at The American Prospect has been ranting for months about how the Goldman/Redbook numbers are skewed because of small business failures. And that was some revision, to 1.5% down for the month before. wonder what april's numbers will be next month.

and on the same day Bloomberg runs the following. see how many errors and problems you can find. they should be ashamed of themsleves.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aDyuaXtothZw&refer=home

Why are gasoline sales included in retail sales? Shouldn't they be in a separate category?

and that's after the gov't paid out tax refunds of more than 18% above last year's level. there's been tremendous upward pressure in the stock market, but this could turn the tide. we despise the american consumer (profligate ignorant non-saving sorts that they are) but we bitch and moan when they cease to spend (and try to offer them low interest rates so they'll feel compelled to put their money anywhere but in savings accounts).

SteveF, where did you go? Where is the spin?

the household sector might start to get serious about deleveraging ... also the end of moratoriums and the spike on recasts will push prices lower a vengeance soon (imho)

"one in every 374 U.S. housing units received a foreclosure filing in April, the highest monthly foreclosure rate ever posted since RealtyTrac began issuing its report in January 2005"

admin, wasn't las vegas one in 56, or some fright show like that?

but Bloomberg reports that the good news in the economy is compelling people to "splurge." Gave an example of a family that is going on a cruise to celebrate the husband/father still having a job, despite cuts at his job site. wanted to buy a car, but couldn't afford it, so this is their luxury purchase. green shoots everywhere.