Wednesday :: Sep 14, 2005

Retail Sales Started Falling Last Month Before Katrina

by Steve

Before the Bush Administration tries to lock in the spin that any economic slowdown is the fault of Katrina, please note that retail sales slumped by their largest amount in four years last month, even before the effects of Katrina were felt. A sharp drop-off in auto sales was the major contributor, but even excluding auto sales, the slight increase in retail sales last month was reflective of higher energy prices, not a growth in consumer sentiment.

Steve :: 8:08 AM :: Comments (18) :: TrackBack (0) :: Digg It!