Saturday, July 21, 2012

U.S. Retail Sector Now at Worst Level Since Summer 2009

As retail goes, so goes the economy.
The retail sector reports that sales for June, for stores open at least one year, gained an anemic 0.1%, the slowest rise since August 2009.
This was the third month in a row of significant weakness in the retail sector!

When compared to the 6.7% rise in sales in the same period last year for the retail sector, this 0.1% rise in retail sales from last month reveals how weak consumer spending in this supposed economic recovery is. Remember, dear reader: 70% of gross domestic product (GDP) is composed of consumer spending.

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