Retail sales slip on auto weakness; trade gap widens

[Snellius]

WASHINGTON — Retail sales posted a larger-than-expected decline in August, a Commerce Department report on Tuesday showed, but the drop was mostly confined to the auto sector.

Commerce said retail sales fell 0.3% in August — more than the 0.1% drop economists had been projecting — but sales excluding autos rose 0.2%, matching expectations.

In a second report, the deficit in the broadest measure of trade swelled to a record high $166.2 billion in the second quarter of this year, up from a $147.2 billion deficit registered in the first quarter, the department said.
...
The current accounts report is considered the best measure of a country's international economic standing because it tracks not just the goods and services reflected in the government's monthly trade reports but also investment flows between countries and unilateral transfers, including U.S. foreign aid payments.

http://www.usatoday.com/money/economy/trade/2004-09-14-retail-sales_x.htm

[krkaufman]

1. And our little twit doesn't even know how to fiddle. n/t

[A_Possum]

4. LOL!

[Coventina]

2. Hey, my friend bought a car on Ebay!

Cheney would say that's what's keeping the numbers down!
Auto sales on Ebay not being counted!!

[whistle]

3. It is the economy stupid, so why is Greenspan increasing...

...interest rates when the signals all point to a slowdown in the economy? I would say that for every 1% drop in GDP the federal deficit will increase by $57.6 billion because of lost tax revenues and then the politicians will have to increase federal spending to re-stimulate the economy. Plus, isn't the interest on the national debt directly affected by these Federal Reserve rate hikes?