Regis Philbin
Aug 11th, 2006, 09:12 PM
Once again, the U.S. consumer has proved the ivory tower "experts" wrong...
http://biz.yahoo.com/ap/060811/economy.html?.v=15
AP
Retail Sales Climb 1.4 Percent in July
Friday August 11, 5:13 pm ET
By Jeannine Aversa, AP Economics Writer
Commerce Department Reports Retail Sales Jump 1.4 Percent in July, the Most in Six Months
WASHINGTON (AP) -- Shoppers got back in the buying mood in July, propelling sales at the nation's retailers up by 1.4 percent, the most in six months.
The snapback reported Friday by the Commerce Department came after shoppers hunkered down in June, depressing retail sales by 0.4 percent, according to revised figures. June's sales turned out to be even weaker than the 0.1 percent dip reported a month ago.
The showing on retail sales for July was stronger than economists were expecting. They had forecast a 0.8 percent gain.
"Consumers appear to be hanging tough and are doing their part to ensure that the economic expansion remains intact," said Mark Zandi, chief economist at Moody's Economy.com.
http://biz.yahoo.com/ap/060811/economy.html?.v=15
AP
Retail Sales Climb 1.4 Percent in July
Friday August 11, 5:13 pm ET
By Jeannine Aversa, AP Economics Writer
Commerce Department Reports Retail Sales Jump 1.4 Percent in July, the Most in Six Months
WASHINGTON (AP) -- Shoppers got back in the buying mood in July, propelling sales at the nation's retailers up by 1.4 percent, the most in six months.
The snapback reported Friday by the Commerce Department came after shoppers hunkered down in June, depressing retail sales by 0.4 percent, according to revised figures. June's sales turned out to be even weaker than the 0.1 percent dip reported a month ago.
The showing on retail sales for July was stronger than economists were expecting. They had forecast a 0.8 percent gain.
"Consumers appear to be hanging tough and are doing their part to ensure that the economic expansion remains intact," said Mark Zandi, chief economist at Moody's Economy.com.