Retail sales unexpectedly drop in August

[Amerigo Vespucci]

Source: MSNBC

WASHINGTON - Frugal shoppers cut back again in August, driving down sales at the nation’s retailers for the second month in a row, further proof the economy is losing traction.

The Commerce Department reported Friday that retail sales dropped by 0.3 percent last month. Economists expected sales to rise by 0.3 percent.

Sales in July also turned out to be even weaker than previously thought, falling by 0.5 percent, the worst showing in five months.

Rising unemployment, strained household budgets and falling home prices — which make homeowners feel less wealthy — are making shoppers more cautious.

Read more: http://www.msnbc.msn.com/id/26673147/

[hatrack]

1. "Unexpectedly"?!? "Unexpectedly"?!?

Jesus . . .

[ixion]

5. my reaction exactly

:wtf: unexpectedly... :eyes:

[SheilaT]

9. Same here.

Back when the stupid checks were sent out it was widely commented on that they'd give a temporary boost to the economy.

The real problem is that the news media and most people have not only no sense of history, but no knowledge of what happened even last week.

[VWolf]

10. Ditto. nt

[graegoyle]

17. Reminds me of a few years ago...

I heard some short news blurb that said the auto industry was blaming low profits on low auto sales. And all this time I thought it was because of Happy Meals. I guess that kind of insight is why they get paid the big bucks.

[screembloodymurder]

2. The only people who were suprised

are working for CNBC and they don't have a clue.

[PSPS]

4. For the monied class, including the millionaire pundits on TeeVee, there is no "recession"

Frankly, I'm surprised they don't regularly have an alternate set of "statistics" that excludes anything negative so they can pretend everything is rosy. Kind of like the CPI when they exclude everything that's gone up in price to say, "but when we exclude these items, prices didn't go up hardly at all!"

[SpiralHawk]

14. Ture. Corporate TV reporters are highly paid. Out of touch with the majority of Americans

Corporate media spokesmodels prefer to stay in their comfy republicon-money-bucks fluffed balloons.

They have no idea how to be real reporters in service to the truth or the nation.

[closeupready]

19. Except usually those excluded items are non-essential luxury things like food and energy.

:sarcasm:

[tanyev]

3. They need to name all these "economists" who have such rosy predictions.

They're either loyal Bushies, or they got their degrees by mailing in a lot of bubblegum wrappers. Maybe both.

[LiberalFighter]

6. They just graduated from college. They know everything.

[maseman]

15. I wouldn't say that their expected sales of 0.3% is rosy

These people take all factors and indicators and try to predict what will happen. No one is talking rosy except Bush and mcSame.

[tanyev]

16. No, 0.3% is not particularly rosy,

but I've got a folder full of links to stories from the past few years where the economists were continually surprised that the economic news was worse than they were predicting. That sounds like a group of economists that should pack it in and start a lawn-mowing business.

[maseman]

22. You're correct. Eternal optimists.

[NYC]

23. It would surprise them when the grass grew.

Who could expect such a thing?

[LiberalFighter]

7. I did my part. Drive only when I need to. Buy only when necessary.

[LiberalFighter]

8. They want us to spend. YET they expect us to save for our retirement?

To have medical insurance?

[Yavin4]

11. They Want Us To Spend Without Any Money

Without jobs. With rising prices, and stagnant wages.

How can you buy anything without money?

[dixiegrrrrl]

13. do what the G'vt does.

Charge it.

Which is how we got into this mess in the first place.

[LiberalFighter]

24. Isn't that what McCain does? Doesn't he have a $500,000 outstanding credit balance?

[quispquake]

12. I know up here in Maine...

We're all squirreling away as much money as possible to survive this winter...We went to wood last year and will be fine, but there are THOUSANDS of poor & elderly who are in big trouble (the Low Income Heating Assistance is only going to be giving around $500 per family I heard). So, all the money here in Maine is gonna be in the pockets of Exxon and their ilk.

So, where in hell are people up here going to get the money to spend on anything BUT survival? It's a scary time...

[lib2DaBone]

18. How Do You Buy Things WIth No Job.. No $$$ ?

Frugal Shoppers? But McCain says the economy is "sound".. Phil Gramm says Americans are just "Whiners".

[WePurrsevere]

20. Whoa... not good at all. August is "Back To School" shopping.normally.

When I used to work retail August was normally very busy with folks getting new clothes and school supplies for themselves or their kids.

[BattyDem]

21. "unexpectedly"

:rofl: :rofl: :rofl: