Forget Thursday, It's Already Friday
October 13, 2007
Retail Sales Post Strong September
By THE ASSOCIATED PRESS
WASHINGTON (AP) — Retail sales posted a stronger-than-expected gain in September as a big jump in auto sales helped offset weak demand for clothing.
The Commerce Department reported today that retail sales increased 0.6 percent in September, compared to August. That was double the gain that economists had been expecting and was also in contrast to reports on Thursday of sluggish demand from the nation’s leading retail chains.
The government data did show weakness at department stores and speciality clothing shops, where unusually warm weather dampened demand for fall clothing.
The strength in retail sales should ease concerns that the worst slump in housing in 16 years and this summer’s financial market turmoil could push the country into a recession.
What a difference a day makes. Just yesterday I was all sulky about sales being down at Wal-Mar…