Retail sales rise unexpectedly in February

[babylonsister]

Sigh. More good news. Can DU handle it? I kid! :)


Retail sales rise unexpectedly in February
AP

By MARTIN CRUTSINGER, AP Economics Writer


WASHINGTON – Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from storming the malls. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum.

The Commerce Department said Friday that retail sales rose 0.3 percent in February, surpassing expectations that sales would decline by 0.2 percent.

The overall gain was held back by a 2 percent decline in auto sales, reflecting in part the recall problems at Toyota. Excluding autos, sales rose 0.8 percent, far better than the 0.1 percent rise outside of autos that economists had forecast.

The gains outside of autos were widespread with sales rising at department stores, furniture stores, appliance shops and hardware stores. Restaurants and bars enjoyed a 0.9 percent advance, their biggest gain in nearly two years, possibly an indication that snowbound Americans decided to visit their local eating and drinking establishments to get a break from their homes.

more...

http://news.yahoo.com/s/ap/20100312/ap_on_bi_go_ec_fi/us_economy

[glowing]

1. America got its tax return. AND the Canadians were travelling.. They love to

buy at our stores because its soooo cheap to them.

[babylonsister]

2. I bet a majority of Americans haven't even filed yet.

Most don't even get the necessary paperwork until the end of January. :shrug:

Either way, it's still good news.

[glowing]

3. Most people I know have gotten or are a couple of weeks from getting it.

I'm sure there are procrastinators, but many people need money..

[stevenleser]

42. And if both of those things typically happen at this point in the season, it doesnt matter

these measurements contain seasonal adjustments.

[ShortnFiery]

4. I don't believe this for a moment. Smoke and mirrors. eom

[babylonsister]

5. Ah! I see DU cannot handle good news. About what I figured. nt

[Name removed]

6. Deleted message

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[AllentownJake]

10. Actually the report was shown to show nothing

If you want links to the plethora of people who dissected the report and showed that, you are welcome to it.

The stock market didn't exactly surge on the news, up 12 points DOW down a tiny bit in the NASDAQ.

[HughMoran]

14. Allentown Jake finding flaw in every single positive report ever posted on DU?

Color me surprised!

:party:

[Name removed]

15. Deleted message

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[HughMoran]

16. Dude, the BLUE pill did NOT mean liberal/progressive!!

Oh, no - you didn't take the blue pill, did you?

:wow:

[AllentownJake]

17. I'm really sick of people

and their inability to critically think...you can, you are just either in denial or being lazy.

Did you read the report at least? Can you tell me which parts you liked, disliked, had no opinion on?

[HughMoran]

18. I read it - what's the problem?

I thought about posting it this morning when I first saw it, but the PO news was discouraging and I wasn't in the mood. So what's crawled up yer ass & died this time? :rofl:

[AllentownJake]

19. Lehman brother's report

I'm growing impatient for indictments and long prison sentences for crooks.

[HughMoran]

20. Sounds like they were manipulating the numbers

I think a little jail time is in order too.

[treestar]

25. Yeah, nothing new there

He won't be happy unless there really is another depression. And won't be able to crow about it, since none of us will be able to afford to get onto the internet. We'll be living in boxes. :sarcasm:

[AllentownJake]

32. You know

If you had something intelligent to say other than insults, I'd respect you.

Translation, defend your position or shut the fuck up.

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[AllentownJake]

13. Damn straight

:toast: for the critical thinking group on DU!

[jschurchin]

8. It's not that sister.

I am just to the point that I don't believe anything the government say's anymore. When you dig into the data they use, their "headline" figures ALWAYS fall apart.

Take unemployment for just one example. The "headline" number is 9.7%. But if you dig a little you find out that people who ran out of benefit's are NO LONGER counted as unemployed. The REAL figure is closer to 20%.

I just got home from work and haven't had a chance to really look at the data they used to come up with their "headline" number, but this much is certain, it is cooked.

[Honeycombe8]

22. But sales data is compared to former sales data. So if the methodology

is cooked, it's cooked for the prior mnth, and the prior month, and the prior month. It's not what the sales data IS for this period. It's the COMPARISON to what it WAS that is measured.

But yeah, anything can be cooked. We could easily say (and we did) that the unemployment and sales data throughout the Bush administration was cooked.

But in this case, I am seeing this firsthand, so I believe it. I am also one of the ones who is starting to buy things. I and my coworkers all seem to be more comfortable that the economy is just a tad better now than it was a year ago. And our 401Ks have rebounded. Things aren't great, but remember where we were a year ago. Things were awful at the beginning of last year. So yeah, I believe that many Americans are feeling that things are better than they were last year.

[treestar]

26. It's based on something. Just alleging it is cooked is based on nothing

more than the desire to see blackness everywhere.

And I thought I suffered from depression. My case is mild.

[Cha]

28. To quote maverick..

"President Obama has shown himself to be far more honest than his critics
so I am with you, I will believe him over his attackers."

[AllentownJake]

34. The January numbers

Were revised downward, compared the unadjusted January numbers to the February numbers and get back to my sorry ass.

Oh and than throw another insult and fuck yourself.

[Zynx]

39. Running out of benefits does not make you not be counted anymore.

It is if you are not looking anymore that you are not counted. Also, that 16.8% U6 number counts underemployed. It's an important number to look at as the recovery gains steam because if the headline numbers decline, but U6 does not decline much, that's a problem.

[Honeycombe8]

21. I believe it totally. Seems to me the economy is slowly improving, so increased sales would

be showing up, if only slightly, as our citizens start loosening up a bit.

I am one of them. Most of us haven't lost our jobs, but I, like many others, was saving any extra $ in case I got laid off or fell on hard times. My company seems to be doing okay. Layoffs are lessening throughout the country. The stock market (my 401K) has rebounded. So I am feeling a bit more comfortable with the economy and am going to break out the old wallet and buy a few things I've been holding off buying. Like a few house improvement things, a new blender, things like that. And the REAL biggie is....I am considering buying a new car this year (mine is 12 1/2 years old and looking pretty rough). But I may hold off on the car. I'll see.

[AllentownJake]

33. The January numbers

on this bullshit survey were revised downwards. If you take the un-revised January numbers to the new bullshit February numbers they are the same.

Again take off your political hat and think for a damn second in your life.

[Honeycombe8]

38. Please post your link showing the Feb. increased sales is incorrect. I am basing...

my view on PERSONAL OBSERVATION AND PERSONAL EXPERIENCE.

I have started spending. My friends have started spending. I am going to spend some more. Quite a lot more. New storm doors, maybe new windows, new blender, maybe a new car. My best friend just bought a new house. She'll be buying new appliances for the house, etc.

My other friends have been buying lots at big box stores. My siblings have started taking vacations.

My coworkers are buying new furniture, new appliances, hiring house repair-renovations-decorating services.

I and my coworkers lost lots of money in our 401Ks when the country was on the brink of the second Great Depression (remember that? The country was on the brink of a Great Depression. Not any more, it isn't.)

Well, I now have more money in my 401K than when the downturn started. The stock market gained over 60% last year.

Yes, my friend. The economy is improving.

A long way to go, still. But there is improvement. It's all around you, if you look and let yourself see.

[jschurchin]

40. You can believe what you want Honeycombe

But the real numbers don't lie.



The Gallup organization polls everyday Americans about their spending habits and what they are spending. As you can see by the link, something is wrong with the guberments numbers.

I disagree with your contention that the economy is improving. I will concede the fact it's not getting any worse, but it is NOT improving. Look at sales tax receipt's, which is a very good indication of the direction of our nation's economic health. What direction are they moving?

Just a few links;

http://www.businessinsider.com/new-york-sales-tax-receipts-hit-unprecedented-lows-2010-2
http://www.ky3.com/news/local/86973892.html
http://www.bizjournals.com/denver/stories/2010/03/08/daily71.html

And this is happening nationwide.

We as a nation have been trying to borrow our way to some kind of economic health. Borrowing and loose credit is what got us into this mess to begin with. Now our current administration seems to think that repeating the mistakes of the former administration will lead to a better result.

Those that forget the mistakes of the past are doomed to repeat them. Think it was bad the first time? Just wait.

[Kdillard]

7. kick and rec.

[AllentownJake]

9. This report has been pretty much debunked and repudiated by the markets nt.

[Honeycombe8]

23. No it hasn't. nt

[AllentownJake]

30. Great fucking response. nt.

[Honeycombe8]

35. You get snippy when confronted by facts, don't you? Facts are pesky little things.

They just don't go away, no matter how much of a temper tantrum you have.

Please post your link for the so-called debunking, and we'll agree you weren't having a juvenile temper tantrum. But of course, we know you were. I checked. The stats have not been debunked.

[treestar]

27. If the economy ever recovers you realize you're going to be eating crow

do you really want to set yourself up that way? Top be sorry if it recovers?

[AllentownJake]

31. If I'm wrong

I'll gladly eat crow.

I'll stand by my assertion at this time the worst thing you can do during a deflationary debt crisis is to bail out creditors.

I'd rather be wrong, the work I did in 2008 would not have been in fucking stupidity.

[Honeycombe8]

36. The economy is already recovering. Verrrrry slowly, but it is much better than a year

ago. People have short memories. Remember that a little over a year ago, the country was on the brink of a second Great Depression.

[Zynx]

37. Markets can piece together what the retail sales report will be because

auto sales and the monthly chain store sales come out a week before. Unless the Census Bureau says something very surprising it is not likely to move markets much. The futures markets responded marginally favorably to this news, however.

[Pirate Smile]

11. K & R

[treestar]

24. And the winter was so bad in the Northeast

Yet still there were signs of recovery.

This is good news.

[AllentownJake]

29. You really have no clue what the hell you are saying nt.

[treestar]

41. You are so negative

What the hell do you get out of it?

This is everybody's lives - not even just the U.S. If we think we are recovering we are.

You'd just rather be right? Sick.

Besides, no one can tell either way.