Saturday, 17 September 2011

Summary Box: Retail sales flat in August (AP)

SALES FLAT: Retail sales were flat in August as sales of autos, clothing and furniture all declined.

WORRIED CONSUMER: The weakness was blamed on consumers growing more cautious during a month of wild stock market swings, zero job growth and heightened concerns about whether the economy might be tipping into a recession.

OUTLOOK: The economy barely grew in the first half of the year, slowing to an increase of just 0.7 percent. Economists are forecasting a modest pickup in activity in the second half, but they say it will depend on whether consumer spending can rebound.

0 comments:

Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More

 
by Society News | Bloggerized by Lasantha - Premium Blogger Themes | coupon codes