Retail sales in May

Since I wrote about the unexpectedly steep decline in retail sales in April 2007, it’s only fair that I note that retail sales were back up in May, the biggest increase in sixteen months. Even after you exclude the effects of high gasoline prices, sales were up 1.2 percent.


One thought on “Retail sales in May

  1. That statistic coupled with a negative savings rate can only mean one thing. Consumers are still borrowing to make purchases.

    Here’s lesson number one: If you look around and find yourself in a hole, stop digging.

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