Chart Of The Day: Retail Sales & Excuses
From Streettalk Daily X-Change
December 26, 2012 - 1:30pm
Retail sales, as I expected , have turned out to be much weaker than what the National Retail Federation (NRF), and other analysts, previously presumed. The excuses for the weakness, however, were just as much off the mark as the original analysts' estimates. According to an AP article:
"Shoppers were buffeted this year by a string of events that made them less likely to spend: Superstorm Sandy and other bad weather, the distraction of the presidential election and grief about the massacre of schoolchildren in Newtown, Connecticut.
The numbers also show how Washington's current budget impasse is trickling down to Main Street and unsettling consumers . If Americans remain reluctant to spend, analysts say, economic growth could falter next year."
While these excuses may play well in the media, in reality, the fiscal cliff, end of October storm and the school shooting had ver...Continue reading this article »