Retail sales weaker than expected in March

[tanyev]

WASHINGTON (Reuters) — Retail sales rose 0.3% in March, the Commerce Department said Wednesday, falling short of expectations after a sharp downturn in department store and clothing sales.
Economists had forecast a 0.7% rise in retail sales last month due to higher gasoline prices and assumptions that consumers would stock up on spring clothing. February's rise was unchanged at 0.5%.

Higher energy costs are a tax on household budgets that can crimp spending. Clothing sales declined 1.9% while department store sales were off 2.0%.

Excluding autos, which can swing sharply from month to month, retail sales advanced just 0.1% — weakest reading since April 2004 — compared with forecasts for a 0.5% gain. But February was revised up to show a 0.6% increase from the 0.4% rise that was originally reported.
http://www.usatoday.com/money/economy/trade/2005-04-13-retail-sales-mar_x.htm?csp=24&RM_Exclude=Juno

[mhr]

1. No Surprise To Those Of Us That Are Unemployed

Seems the economy is catching up to those that are still employed.

[whistle]

2. Why should that be a surprise to economists......

....the unemployment rate is at 5.2%, but the number of jobs lost and discouraged workers more than doubles the number of permanently unemployed and extremely under employed in the country. Real inflation and prices of essentials is much higher than the reported inflation numbers, disposable income has dropped, the minuscule tax cuts that the bottom 90% of the taxpayers received from Bush's tax cuts have been more than absorbed by local and state tax hikes and average workers are falling deeper into debt. I did not buy a new suit this year even though I could use one and I have cut my personal discretionary expenditures to the bone, but still find it hard to pay for necessities, like power, doctor's visits and food.

[tanyev]

3. That's what really gets me.

I started a folder to save all the economoic articles that used the words "surprise", "unexpected", etc. I'm now up to 20 articles. Maybe these economists are also on the payroll of the Bush team.

[whistle]

4. I dunno.....perhaps economists are so out of touch with the real......

...world economic situation that they really are surprised when absolutely nothing happens the way their countless theories suggest.