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Tue Aug 14, 2012, 12:02 PM

Retail Sales Bounce Back In July With Largest Gain In 5 Months

Source: Forbes

Americans spent more time in stores last month than expected, lessening some worries that a key part of the economy was slowing.

Retail sales in July climbed 0.8% from a month earlier to $403.9 million. Analysts predicted sales would rise only 0.3%. This was the largest increase since last February. The gain reverses a slide in retail sales, as consumers cut back on spending amid worrying economic signs. In June, for context, retail sales fell 0.5%.

The surge in shopping meant crowded stores across retail. Sales of building materials rose 1%. Receipts for autos gained 0.8%. And sales at sporting-goods retailers increased 1%.

Economists pay close attention to retail sales, hoping for a sense of emboldened consumers. When retail sales fell in the second quarter, GDP growth declined in tandem: consumer spending is by far the largest drive of economic growth in the U.S. Any signs that spending will strengthen will boost forecasts for third-quarter GDP.

Read more: http://www.forbes.com/sites/abrambrown/2012/08/14/retail-sales-bounce-back-in-july-with-largest-gain-in-5-months/

11 replies, 2030 views

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Arrow 11 replies Author Time Post
Reply Retail Sales Bounce Back In July With Largest Gain In 5 Months (Original post)
Purveyor Aug 2012 OP
AtheistCrusader Aug 2012 #1
snappyturtle Aug 2012 #2
riverbendviewgal Aug 2012 #3
Roland99 Aug 2012 #6
bushisanidiot Aug 2012 #4
progressivebydesign Aug 2012 #5
earthside Aug 2012 #7
dmallind Aug 2012 #8
fasttense Aug 2012 #9
SunSeeker Aug 2012 #10
ObelixS Aug 2012 #11

Response to Purveyor (Original post)

Tue Aug 14, 2012, 12:06 PM

1. :wOOt:

Even building materials! Good signs!

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 12:14 PM

2. Haven't read the article yet but I wonder how much of the increase

can be attributed to great sales?

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Response to snappyturtle (Reply #2)

Tue Aug 14, 2012, 12:26 PM

3. Maybe because the businesses can't keep holding back from hiring.

The republicans are losing their grip.

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 12:29 PM

4. Well that's going to piss off Romeny, Ryan and the republicons

.

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 01:10 PM

5. Most jobs added in 4 years. Home sales/prices up. Consumer Confidence up. Retail Up. Stock Market Up

Damn that President Obama and is "failing" policies!!!

Seriously, how do the GOP even keep a straight face anymore when they talk about this stuff????

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 01:28 PM

7. Absolute garbage.

http://www.census.gov/retail/marts/www/marts_current.pdf

Here are real, raw dollars --- not statistically 'adjusted' numbers.
Actual money changing hands is down, down, down.

Retail & food services total:

Not Adjusted

July 2012
401,988

June 2012
405,820

May 2012
424,2012

Building material & garden eq. & supplies dealers

July 2012
25,003

June 2012
27,009

May 2012
30,800

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Response to earthside (Reply #7)

Tue Aug 14, 2012, 01:34 PM

8. So when seasonal adjustments move raw figures down

Is that also "absolute garbage"? Or is this like the usual DU Doomer whining about UE seasonal adjustments - that only get mentioned when they are positive?

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Response to earthside (Reply #7)

Tue Aug 14, 2012, 02:27 PM

9. Obama has never gone back from the rigging system the bushes put into place.

And he adds in some fancy numbers rigging by his own administration.

http://www.zerohedge.com/news/mystery-july-retail-sales-beat-solved-it-all-seasonal-adjustment

"Not Seasonally Adjusted (full series here) retail sales data in July actually declined by 0.9% from $405.8 to $402 billion. Of course, if the Census Bureau was using a consistent, or at least remotely comparable July seasonal adjustment factor as it has in the past, this would make sense and we would move on. So we decided to look at what the July seasonal adjustment variance over the past decade has been. What we found would have shocked us if indeed this is not precisely what we expected: with the July seasonal adjustment factor routinely subtracting a substantial amount from the NSA number, averaging at -$5.2 billion, in 2012, for the first time this decade, the seasonal adjustment not only did not subtract, but in fact added "value" to the NSA number, resulting in a seasonally adjusted number that was $1.9 billion higher than the NSA number at $403.9 billion."

It's all in the adjustments. It makes it look better than what it is, because one thing con men need more than greedy marks is the confidence of that mark.

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 04:43 PM

10. Could you imagine what the numbers would be if the Repukes hadn't blocked the Jobs Act? nt

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Response to Purveyor (Original post)

Tue Aug 14, 2012, 06:40 PM

11. People buying with credit cards

 

Forum member:

I have CC machine in my store. As the month nears the end the number of transaction on CC's increases as does sell side action. People do not want to change thier consumption habits. The lifestyle and standard of living is more important that the future. Nobody want the dream to end let alone slowdown spending.

People do not want appear less than afluent even if it is bankrupting them. Image is more important reality even if thier life life is a complete lie. I met a gas station attendant a couple of years ago who had A one credit. He has over $ 750,000.00 availible.

I f he were to max out all the cards in a spending spree he would never be able to pay it back during the course of his life. The same goes with the way DC blows money there is no way it can be paid back and the US will be in debt bondange forever.

Nobody seems to mind and goes on with thier wage monkey lives. It has just been accepted by the American people that they are slaves and make more to keep the interest payments coming.

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