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.

Advertisements

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s