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4/13/2005

Retail Sales Weak In March

Retail sales didn't meet the expectations of economists' forcast of a 0.7% rise in retail sales last month. After a sharp downturn in department store and clothing sales, retail sales only rose 0.3% in March. The Commerce Department seemed so shocked about this but thinking about it, why would they be? it's just a transfer of where the money is being spent. It's on gas! Sales at gasoline stations pushed ahead, rising 2.1%, which reflects the impact of higher prices on oil. So all of this doesn't really take me by surprise.
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1 comment:

  1. Dr. Tufte6:36 PM

    What does this have to do with ManEc?

    BTW: isn't gas sold at retail as well?

    BTW 2: doesn't "sales" mean price times quantity, so that a price increase on an inelastic good like gas probably increases "sales".

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