Wednesday, January 14, 2009

Retail Sales Suck

Well, with the economy in the tank, or in other words, it has been tanking for the whole year, the news and numbers are not good at all.

December’s drop marked a record sixth straight monthly decline.

The Commerce Department said total retail sales fell 2.7 percent to a seasonally adjusted $343.2 billion last month following a revised 2.1 percent drop in November, previously reported as a 1.8 percent decline.

As in the bank bailout, the auto bailout, watch for retail to ask for some relief, but more importantly watch those stores already in Chapter 11 bankruptcy to close for good and other named stores to produce massive layoffs, close chains and join the bankruptcy group.

When people are laid off, lose jobs, compaines close there is no money to sustain the economy. When people who have jobs, are worried about keeping jobs, they close their wallets and pocketbooks on spending.

We have a very tough year ahead of us, it will get worse.


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