June Retail Sales Take a Nose Dive

What: In June, consumer spending dropped 0.9% , the biggest drop since August 2005.

What the experts say: USATODAY: “The drop was much bigger than the flat reading that economists had been expecting. It raised new worries about consumer spending, which is closely watched because it accounts for two-thirds of total economic activity.

What I say: Now that Paris, Lindsay, Britney and Nicole are out of jail/rehab/mental institutions, consumer spending should rise.

Target.com

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Comments

  1. Judy says

    I couldn’t help but notice that food and beverage sales were UP…so Americans must be using food therapy instead of retail therapy these days! 

    I agree that Paris, et. al. need to do their part to boost the economy.  Since we indulge THEM in so many ways they need to do their bit!

  2. Rhonda says

    This should be a wake up call to designers out there. The only things I’m seeing that are economy friendly, and wearable are at Ross. The designs at Target and Wal Mart are just horrid and J.C. Penny’s has only been so-so for months. I’m bored with the designs.

  3. Mouse says

    Personally, I’m done buying for summer.  If Fall 2007 is going to be a big change, more minimalist, then there’s no point in buying stuff now that I can’t wear into fall.  I’ll wait til the Fall stuff comes out.

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