US Retail Sector at Lowest Level Since Summer of 2009

Thanks Barack.
The US retail sector is now at its lowest level since the summer of 2009.
Profit Confidential reported:

The retail sector reports that sales for June, for stores open at least one year, gained an anemic 0.1%, the slowest rise since August 2009.

This was the third month in a row of significant weakness in the retail sector!

When compared to the 6.7% rise in sales in the same period last year for the retail sector, this 0.1% rise in retail sales from last month reveals how weak consumer spending in this supposed economic recovery is. Remember, dear reader: 70% of gross domestic product (GDP) is composed of consumer spending.

The retail sector uses this measure—stores open at least one year—because stores that are shutting down and new store openings tend to skew the data, so taking stores that are open for at least a year provides a more accurate reading of the retail sector and consumer spending patterns.

At least 15 of the 20 big U.S. retailers within the retail sector missed their sales estimates for the month of June, highlighting the weakness in consumer spending.

Some of the retail sector companies reporting weak results include Target Corporation (NYSE/TGT), Walgreen Co. (NYSE/WAG), and Costco Wholesale Corporation (NASDAQ/COST).

Clothing discount stores and low-end retailers within the retail sector, such as Ross Stores, Inc. (NASDAQ/ROST), experienced stronger growth in their sales numbers, as consumer spending hampered by low real discretionary income meant that people sought more bargains. (Source: New York Times, July 5, 2012.)

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#1 July 21, 2012 at 11:42 am
jorgen commented:

Jobs will be created when Obama loses his job.
#3 July 21, 2012 at 12:08 pm
I'm not a Racist; I don't like Biden or Pelosi either commented:

It will be interesting to see how the Obama team and MSM manage to spin this into a positive, assuming they cover it at all.

With the media focused almost 24/7 on the Colorado shootings, expect lots more bad economic news to be released in the coming days (while nobody is paying attention).
#6 July 21, 2012 at 1:32 pm
MicahStone commented:

Thanks to the failed policies and business-bashing actions of OBOZO and his dictatorial regime, the American economy is no longer on life support – it is stone cold dead. Rigor mortis has passed and the economy has now become just a decaying, stinking corpse. In spite of this, bailout bernanke, to justify his massive salary and humongous benefits, continues to provide mouth-to-mouth resuscitation to this rotting pile. All that is doing is creating asset and bond bubbles which help his Wall Street masters reap massive profits, but which also will inevitably collapse causing equally massive harm to the poor and middle class. Even with bailout bernanke’s desperate and potentially harmful actions, the labor force participation rate – the most significant measure of US employment – continues to decline and is now at nearly a 40 YEAR LOW, while “disability” claims and food stamp recipients are at an all time high.

If bailout bernanke and the feckless Fed really wanted to help the US economy (which they don’t – they just want BILLION DOLLAR profits for Big Banks and Wall Street), they would do what the rest of us must do: defeat OBOZO and elect Romney.
#7 July 21, 2012 at 2:33 pm
Patty commented:

OKAY! Can we say OBAMA owns this presidency. Just didn’t work out to well for the messiah, now, did it.

Strange little dud, isn’t he. Says some preposterous things and then backs them up.

Poor fellow, so wrong on so many levels.
#8 July 21, 2012 at 2:37 pm
Patty commented:

OT

NY Mayor Bloomberg is calling for gun control while Colorado Gov. John Hickenlooper calls this an “act of depravity”. Are you kidding me! These killing were by a Colorado University PHD candidate; a kid who had achieved a higher level of education than both the governor and the mayor. Depravity in this case is not just the kid, if anything is morally corrupt as Hickenlooper calls it, its liberal universities that spawn James Holmes types. If Hickenlooper wants to talk about depravity he should include the root cause of moral decline in our country today consisting of a liberal media, liberal welfare state, liberal court system, a manipulative White House, and a dumbed down Democratic Party. Bloomberg just doesn’t want to waste an opportunity for reviving an old party line. The outcome could have been different had one person in the theater had a gun; even if only used as a distraction against the shooter with a bullet proof vest. If guns are made illegal only outlaws will have guns. But gun control isn’t about a scenario in public and how the outcome could have been different; it’s about our rights as citizens to be armed under any condition. In hindsight, how many people with guns if asked would have left them at the door? Not me, and a couple guys like me could have made a difference just like airplane incidents where passengers are the ones who save the day. This is just the beginning of this media blitz and how this Batman shooting incident will be played out as a tool of the left, for example, early television coverage by Brian Ross, ABC news reporting James Holmes as a member of the “Tea Party”; and don’t forget the skewed early reporting about Trayvon Martin. These are just recent reminders about left wing agenda’s and how the news on the left reports. An empty can, not an empty gun, makes the most noise.

http://www.lp.org/issues
#9 July 21, 2012 at 2:39 pm
Patty commented:

OT

Aurora shooting suspect James Holmes jailed in solitary: ‘All the inmates were talking about killing him’

Read more: http://www.nydailynews.com/news/national/aurora-shooting-suspect-james-holmes-jailed-solitary-inmates-talking-killing-article-1.1119173#ixzz21HtrjdLV
#10 July 21, 2012 at 2:46 pm
Patty commented:

Krauthammer: Concerns for civil liberties may lead to dangerously lax treatment of mentally il

video

http://patdollard.com/2012/07/krauthammer-concerns-for-civil-liberties-may-lead-to-dangerously-lax-treatment-of-mentally-ill/
#11 July 21, 2012 at 3:10 pm
dunce commented:

That .1% is not likely adjusted for inflation and that exceeds .i% so the true figure is negative. Do not expect our innumerate president to understand that.
#12 July 21, 2012 at 3:10 pm
mg4us commented:

The dirty little secret the White House does not want you to know is that Retail is tanking. . .

When you factor in significantly higher retail prices since a year a ago as well as weakened US dollar due to Quantitate Easing QE1 & 2. . this means lots less stuff being sold. . .

With declining employment with many more about to loose their jobs when defense and other sectors cut back, and with rising taxes on the horizon, Obamanomics has led to a stagflationary environment.

Expect more bad things until confidence in private sector AND government returns.

Until then enjoy the Main Street Media spin.

No Hope + Negative Change = NObama in NOvember
#13 July 21, 2012 at 3:20 pm
Flintstone F. commented:

His campaign slogan is “FORWARD,” it should be shortened to “FORE.”

We can’t afford “FORE” more years of Obama’s focus on the economy (insert Obama/water hazard pic.)

America is chomping at the bit to get moving again. We’ll shake off this flea bittin’ varmit.

It will be a great opportunity for career changes and lateral moves professionally, as people get some confidence in the economy. Repeal Obamacare and erase Obama’s biggest and most intrusive failure and you will literally see the clouds part to let in the sun.
#14 July 21, 2012 at 3:20 pm
observer commented:

And the praetrian propagandists and Debbie Blabbermouth keep telling us the economyis recovering and job growth is roaring.
#15 July 21, 2012 at 3:33 pm
redc1c4 commented:

what the other folks said: if it wasn’t for inflation, the number would be a negative.

i can’t speak for anyone else, but all we are buying are the bare necessities, and they better be on sale too, or they stay on the shelf. if it isn’t marked down, it isn’t going home.

except for ammo of course: *that* we are buying, as often as we can.
#17 July 21, 2012 at 4:38 pm
tommy mc donnell commented:

everything is going according to plan.

we had the recovery summer, the recession is over. just ask the business pundits in american tass.
#19 July 21, 2012 at 4:42 pm
Mkelley commented:

I love this tweet by Iowahawk:

David Burge @iowahawkblog

We can get people back to work by replacing our crumbling infrastructure. And by “infrastructure,” I mean “president.”