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US retail sales see surprise fall
Press TV
Tuesday, April 14, 2009
Sales at US retailers fell in March after two months of rises, indicating that rising unemployment has reduced consumer spending.
The Commerce Department said on Tuesday that total retail sales dropped 1.1 percent in March, after rising by 1 percent in January and 0.3 percent in February.
aThe unexpected fall in March was due to declining purchases for items such as motor vehicles and electronic goods.
US stocks opened lower after the report with the Dow Jones industrial average falling 47.63 points, or 0.59 percent, to 8,010.18.
(ARTICLE CONTINUES BELOW)
The Standard & Poor’s 500 Index fell 3.77 points, or 0.44 percent, to 854.96. The Nasdaq Composite Index lost 5.17 points, or 0.31 percent, to 1,648.14.
Two months of rise in retail sales had raised optimism that the world’s largest economy was slowly recovering from the financial crisis. However, analysts believe the economic downturn is far from hitting the bottom considering the rising number of jobless claims.
Sales of electronic goods saw the sharpest drop, falling 5.9 percent while vehicles and auto parts sales dropped 2.3 percent.
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16 Responses to “US retail sales see surprise fall”
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April 14th, 2009 at 12:33 pm
I love the title……”suprise fall”.
A suprise to who? If nobody has a job how can they go shopping?
Or they could follow the example of our government and the Bankers and just go get another credit card so they can keep spending, and somehow they could expect that to turn their personal economy around.
April 14th, 2009 at 5:18 pm
Yeah a point well made. If jobs are being outsourced, high income, skilled jobs dropping by the hunrdeds and thousands and merely a few low paid, unskilled jobs being created. How on earth can the economy recover in months. It is impossible.
In America jobs have fallen by what 3,4 or 5 million ?
That is 5 million large incomes which buy food, cars, tv’s, clothes and phones. Money which would pay bills, mortgages, taxes and so forth. You can’t just spend money and give it to the bankers/criminals and expect people to be happy and start buying “our money” back off them through banks & loans and magically fix the economy.
I honestly fear the worst for people over there and here in the UK.
You can’t as I said kill off more productive high paid jobs and employ half the sacked people who haven’t probably ever been sacked and place them in low paid unskilled jobs.
The only reason that the collapse isn’t SO bad and people aren’t losing out is probably because some forsaw the collapse and some people saved money for a rainy day.
I saw a program about an entrepreneur who renovated a flat to a hotel, oweing the bank hundreds of thousands but was successful and paying it off then in months it all went downhill and from having a fortune she can’t sell it nor afford the high costs. She will be made homeless too. I felt bad for her. Although years ago I just didn’t see how people could go out on a limb, take out 100,000 and say hey…watch this im going to make a fortune and pay you back.
To add to the problem, consumers have wisened up and will from now on, try to destroy and rip off the system. Heck I am in some ways. To me it is kill or be killed.
Everyone should stop purchasing what they don’t need. Stop buying cool new gadgets. Stop buying cars which cost a fortune to run and insure. Start learning how to cook instead of eating junk. Exercise at home. Walk to work instead of driving. Plan fun stuff at home to do which doesn’t cost much there are plenty of cheap ways of doing it and coupons to abuse.
Above all. Take out your money from the banks and let them fail.
April 14th, 2009 at 6:10 pm
What a load of crap. Everyday I go out into the public. I see people everywhere at every turn and every corner shopping and eating. How about you jackasses stop building stores and restaurants on every corner like gas stations or McDonalds are going out of style? And trust me they are.
I know what the problem is you people need to be retained in your cities and stop building roads and houses everywhere. If you need something buy it on the internet. Think your going to build a new house or buy a new car? Tough shit your in city limits. That’s where you belong and that is where you stay.
Captain Lizardo Reply:
April 14th, 2009 at 10:07 pm
What the F*ck are you talking about? Oh, I’m sorry, you must be retarded.
out into public? Reply:
April 15th, 2009 at 6:07 am
Out into public WHERE exactly, you all knowing all ‘out in public’ out of you’re mind jerk off
April 14th, 2009 at 8:45 pm
“Half of the hedge funds will go bust next year…You will see credit ripped out of people’s wallets. Ten MILLION more will Lose Homes. There are $4.2 TRILLION in credit cards Outstanding. Credit card companies shut down eight MILLION credit card accounts in February. Banks have already closed out 80 MILLION cards.” International Forecaster, April 11, 2009
April 15th, 2009 at 6:09 am
thats all, seeds, lots of them, and silver, in any and many forms, and save some for the warewolf/wolves.
April 15th, 2009 at 7:48 am
The prior 2 months of supposive rise was number manipulation (a flat out lie)to run in conjunction with the manipulation of the Dow surge, just as the gold and silver prices have been kept falsely low with the crooks dumping metals onto the market. No way the 2 months prior to March showed a rise in retail sales, when it was obvious to even the most casual of observers that most everyone slowed spending from the fear. The deception, lies, manipulation and thievery just keep getting worse, luckily, the stupidity of these crooks gets worse in parallel in relation to their arrogance
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