Retail sales fall a little

Under the headline that "Retail Sales Plummet," the WSJ has this:

When gasoline sales are excluded, the fall in overall retail sales is more modest: a 2.5% drop in November and a 4% decline in December. A 40% drop in gasoline prices over the year-earlier period contributed to the sharp decline in total sales. . . .

The holiday retail-sales decline was much worse than the already-dire picture painted by industry forecasts, which had predicted sales ranging from a 1% drop to a more optimistic increase of 2.2%. . . . .

An up to 1% drop is an already-dire prediction? The media is just crazy about these issues. I wonder if the media didn't have such an extreme reaction whether the decline in sales is related to such hysteria.



Blogger Hyunchback said...

I don't know how much the economy is really down but I know I have less cash to spend.

My guess is that the MSM who oversold the ObamaHopeNChange platform is talking bad about the economy now so that when they report the news a couple of months AFTER inauguration they can quote the same numbers as an "improvement".

Since Obama is going to be inept, impotent and incapable the only hope will come by manipulating the facts and misrepresenting the record. Exactly the way he was elected.

12/27/2008 8:57 AM  

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