U.S. Retail Sales, Wholesale Inflation Data Point To Slow Growth

[Purveyor]

Source: REUTERS

By Lucia Mutikani
WASHINGTON | Fri Sep 13, 2013 10:26am EDT

(Reuters) - U.S. consumer confidence ebbed early this month and retail sales rose just slightly in August despite strong demand for automobiles and other big-ticket items, the latest indications economic growth slowed in the third quarter.

The lack of momentum in the economy was underscored by other data on Friday showing an energy-led increase in wholesale prices last month, but subdued underlying inflation pressures.

The signs of soft domestic demand are unlikely to deter the Federal Reserve from initiating cuts to its bond-buying program as early as next week, however.

"Demand is probably good enough to spur the Fed to taper asset purchases by a wee amount next week," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto.

Read more: http://www.reuters.com/article/2013/09/13/us-retail-sales-idUSBRE98C0IA20130913

[durablend]

1. And from another article...

http://www.bloomberg.com/news/2013-09-13/retail-sales-in-u-s-increased-less-than-forecast-in-august.html

Sept. 13 (Bloomberg) -- Retail sales in the U.S. rose 0.2 percent in August, less than forecast, following a revised 0.4 percent July gain that was bigger tha previously estimated, the Commerce Department reported today. Separately, the producer price index rose 0.3 percent last month, reflecting higher costs for food and some fuels, according to Labor Department figures. Betty Liu and Michael McKee report on Bloomberg Television's "In the Loop." (Source: Bloomberg)
Higher payroll taxes, limited job gains and restrained income growth are discouraging consumers, whose spending accounts for about 70 percent of the economy.

WELL GEE..NO SHIT! PEOPLE WITH NO MONEY AREN'T SPENDING?!?

[Amonester]

5. the poor banksters want to profit more from cc acc.

Don't You Know They Own Us Already?

[MrTriumph]

2. War mongering is slowing sales in Sept

My customers are older and keep up with the news. The debt ceiling hoopla slowed sales 2 years ago. Now this war mongering has done the same.

[Rebellious Republican]

3. However, Goodwill, the Salvation Army and many other thrift shops are off the charts.

[Munificence]

4. You know I am

getting to the age (40's) where I now notice that "comfortable" clothes are the key vs. style. Last year I decided that I'd head to Goodwill and find some used broke-in stuff.

I had never been to a Goodwill, but have always donated every other year or so. I was amazed at their clothing selection and nice stuff. Guess I purchased 5 shirts, 4 pair of khaki's, and 2 pair of shorts and the total was under $40 and tax free. The same stuff new at the big retailers would have set me back well over $200.

[Rebellious Republican]

6. A lot of people are discovering Goodwill

mostly out of necessity not comfort. Thanks for sharing that!