Friday, May 11, 2007
US Consumers creaking
Bloomberg: U.S. Retail Sales Fell 0.2% in April
After poor retail sales data yesterday, including Wal-Mart's worst figures since 1980, US retail sales same in below expectations today suggesting that the slowdown in housing is now taking its toll on the wider US economy. The Fed cannot aggressively cut rates with the dollar under so much pressure so consumers are unlikely to be able to prop up the economy this time around.
Posted by realist @ 03:20 PM (308 views) Add Comment
1 Comment
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1. Bearfacts said...
And how does the DOW respond to the news that the economy is tanking yet rates can't be cut - by soaring of course !