Consumers Not Consuming
March 13, 2008
Consumers just aren’t consuming as they once did; as retail sales figures from the U.S. Commerce Department for February, which were released on Thrusday, show another decline of 0.6%.
Nearly all retailers have reported a lower than average sales, even taking into account the impact of current inflation. No change to retail sales was forecasted by Wall Street, so these figures are weaker than expected.
Compared with last year’s nominal terms, retail sales were up by 2.6%.