First decline in 3 months raises worries about recovery's durability
WASHINGTON - Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.
Still, many economists, puzzled by the retail sales decline that follows reports from retailers of brighter holidays, cautioned that the December figures don't necessarily signal a big consumer pullback and could be a blip.
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5 comments:
Gee, didn't the Daily Yimes boast about how retail sales were up in December?
No jobs = retail sales decline. Doesn't take a rocket scientist to figure that one out.
The economists are puzzled? They must be obamaconomists. I have only a high school education, but apparently I know more about economics than the economists do. If people don't have jobs they don't spend money. It's just that simple. How could anyone expect anything other than a decline in sales?
This just another example of media bias when it comes to a democrat.We have a president that does not have the business sense even to run a neighborhood lemonade stand making economic decisions that will likely put us all in the unemployment line.
lukily, the economy is recovering and the recession is over.
:)
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