Story at Yahoo! News.
June sales heated up for stores, in a sign that Americans likely will continue to spend during the important back-to-school shopping season.
U.S. retailers reported their strongest sales gains since January, as shoppers, enticed by warm weather and an improving economy, took advantage of summer discounts. Revenue at stores opened at least a year - an industry measure of a retailer's health - rose 4.1 percent in June compared with the same month a year ago, according to a preliminary tally of 13 retailers by the International Council of Shopping Centers.
The mall trade group had expected an increase of 3 to 3.5 percent.Some forms of U.S. consumption are being supported by current policy with even small measured YoY increases exhibited like these detailed here by this ICSC report.
3 comments:
I guess the shoppers didn't listen to the monetarist knuckleheads who told them they should be all depressed and panicky about the Bernanke "taper".
Good point Dan, it would be interesting to know what % of our fellow citizens even know what that 'taper talk' was all about... probably like <1%.... (that's probably good..)
Many folks are just out there doing their jobs and trying to live and provision their households with the income they can get their hands on, doing their best...
Current policy is being somewhat successful at least for this cohort here that can apparently consume a bit more than last year... perhaps many refinanced at lower rates since last year and now have some addl income to spend on consumer items...
rsp,
No jobs no pay raises, higher gasoline, higher food prices, higher local taxes you do the math, stick a fork in the consumer, the real consumer not the 1% ers.
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