Marketwatch details:
Sales were stronger than the 2.3% expected by economists surveyed by MarketWatch, largely because of widespread sales gains outside of the gas stations and the auto lots.
Sales are down 5.3% compared with a year earlier. The figures are adjusted for seasonal differences, but not for price changes.
Stronger than expected? Yes. Strong. No.
Source: Census
Gas station sales down 25%, eh?
ReplyDeleteI was wondering why that large station on a busy local corner was gone when I drove by yesterday morning.
"figures are adjusted for seasonal differences, but not for price changes".
ReplyDeletethus, sales aren't down 25% in units, just in revenues. still a likely explanation as to why the station is closed.
Perhaps retail sales are up because so many are no longer paying their mortgages.
ReplyDeleteJust a thought.
Man, I love your blog!! keep it up!!
ReplyDeleteJuly sales are not only down YoY on 2008, they are below July sales in 2006. With any adjustment for inflation, they would be below July 2005.
ReplyDelete