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Title: Decenmber Retail Sales: "Looks like the middle of August out there"
Source:
Calculated Risk
URL Source: http://www.calculatedriskblog.com/
Published: Dec 10, 2009
Author: STAFF
Post Date: 2009-12-10 23:27:43 by Nebuchadnezzar
Keywords: None
Views: 522
Comments: 13
Retail Sales: "Looks like the middle of August out there" by CalculatedRisk on 12/10/2009 08:19:00 PM November retail sales will be released tomorrow morning, but December is apparently off to a slow start ... From the WSJ: Sales Lull Has Retailers Worried The first week of December, typically a lackluster time in the wake of Black Friday, was particularly slow. ... "After solid traffic the first couple of days, it looks like the middle of August out there," said Stephen Baker, vice president of industry analysis for retail watcher NPD Group. And on a key category: Videogames Sales Fall Again in November Combined November videogame software and hardware revenue fell 7.6% from a year earlier to $2.69 billion, data tracker NPD said Thursday. But revenue from videogame sales fell a surprising 3.1% amid expectations of mild growth in the mid-single-digit percentage range. Without growth in consumer spending, the recovery will be sluggish at best. 
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#4. To: Nebuchadnezzar (#0)
Sluggish? The economy cannot improve without jobs. Consumer spending is over, the jobs just are not there. The few that are offer unliveable wages. Stores are not crowded here. There weren't the usual crowds on Black Friday either. Merchandise is largely left over with very few new items.
#13. To: borntoweardiamonds (#4)
I think you are absolutely right, but I think there is even more going on. At the end of the movie "Dances With Wolves" the closing scroll says, "The great Horse Culture of the West was over." Similarly, I think the great Credit Culture of the late twentieth century in America is over. This is a sea change. We have been a consumer-driven economy, but beyond the fact that this has become more difficult, I think people will choose not to chase a certain standard of living with credit. I think the days of "keeping up with the Joneses" are over. It will be interesting to see what happens next in our economy.
Top • Page Up • Full Thread • Page Down • Bottom/LatestWithout growth in consumer spending, the recovery will be sluggish at best.
Replies to Comment # 4. Sluggish? The economy cannot improve without jobs. Consumer spending is over, the jobs just are not there.
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