Wednesday, August 13, 2008

Retail Sales Plummet... What Stimulus Checks?

As previously detailed, stimulus checks continue to disappoint:

U.S. retail sales dropped 0.1% in July, as falling auto sales offset an increase in gasoline sales sparked by higher prices, the Commerce Department estimated Wednesday.

Excluding the 2.4% decline in vehicle sales, seasonally adjusted retail sales rose 0.4% in July, the smallest gain since February. Excluding the 0.8% rise in gasoline sales, retail sales fell 0.2%. "The consumer is running out of steam," wrote Nigel Gault, chief U.S. economist for Global Insight.


  1. Looking for your terms of use. Can you email them to me. thanks.

  2. Feel free to use whatever you like... I'd appreciate it if you link back to me if posted online or you tell people about my blog if used offline.