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Worst retail sales trend since 1974 expected

Posted on 11 November 2008

From Marketwatch.com: On Friday, the US government will report on retail sales for October. Given the credit squeeze, as well as exhaustion and despondence among consumers, bad news is expected. Analysts see a fourth consecutive month of falling retail sales. A fourth drop would be the first time there has been such an extended decline since 1974.

For September, the Commerce Department reported that U.S. retail sales fell 1.2%, with weak results in almost all kinds of stores. For October, economists surveyed by MarketWatch are looking for a drop of 2% — the biggest decline since 2001…. Full Article: Source


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