Economists polled see U.S. Retail Sales down 1.9% in November

December 11, 2008 by · Leave a Comment
Filed under: Opinion 

Well this will match with all the rest of the negative economic data we would expect in a severe recession.  We need to look on the bright side that as prices fall because we do not have all the credit in the system pushing them up that will in the end be very beneficial to the consumer.  Saving a flawed system is not an answer all it is doing is pushing off the inevitable.

News:

Retail sales fell sharply in November, said economists polled by Reuters, as the U.S. job market worsened and consumers became cautious spenders.

Retail sales fell 1.9 percent in November after a steep 2.8 percent drop in October, according to the median estimate culled from a Reuters poll of 77 economists.

Excluding autos, retail sales fell 1.8 percent in November after a 2.2 percent drop in October, according to the median estimate from a poll of 72 economists.

 

The data are due at 8:30 a.m. (1330 GMT) on Friday.

Source: Reuters

 

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