Tuesday, September 14, 2010
Retail sales up, and so are hopes.
Recently fox news published that retail sales were up 0.4 percent in August. Tenth a percent up since July and overall the best numbers since March. CIT Group Inc stated that "retailers and suppliers are optimistic that consumer spending will pick up in 2011." (Retail Sales Up 0.4 Percent in August, Published September 14, 2010. Fox news.com). Of course retail stores have more sales in August, that's when children go back to school. From my experience no matter how poor someone is they make sure they save up their money so their kids can have nice school supplies. That would be like being surprised that sales are up in December right before Christmas. I do agree that spending overall will start to increase though not as much as it did in August. The economy seems to be getting better and people are not panicking now like they were in 2008. "Things" seem to be a tiny bit more stable from a consumers point of view, and the more we hear about health care in the news the more we will forget about our financial fears and decide to spend spend spend.
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