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December 27, 2012

AP: We're Pretty Sure That Holiday Sales Were Bleak Due to Hurricane Sandy and the Newtown Massacre

Anything bad that happens under Obama's watch is beyond his control. He has no power over the economy -- its dire health is attributable to ATM machines, Japanese earthquakes, and the NRA's promotion of murdering children.

Of course, whenever there's a speck of positive economic news, that is due to Obama's mastery of the levers and gears of production.

Fifth year straight of this.

U.S. holiday retail sales this year were the weakest since 2008, when the nation was in a deep recession. In 2012, the shopping season was disrupted by bad weather and consumers' rising uncertainty about the economy.

...

In 2008, sales declined by between 2 percent and 4 percent as the financial crisis that crested that fall dragged the economy into recession. Last year, by contrast, retail sales in November and December rose between 4 percent and 5 percent, according to ShopperTrak, a separate market research firm. A 4 percent increase is considered a healthy season.

Shoppers were buffeted this year by a string of events that made them less likely to spend: Superstorm Sandy and other bad weather, the distraction of the presidential election and grief about the massacre of schoolchildren in Newtown, Connecticut.

Much, much later the article mentions another possibility -- the coming financial cliff and people's fear of the next dip in the endless recession.

Thanks to an Open Blogger, who posted this in the sidebar.


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posted by Ace at 03:14 PM

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