Double plus good. Retail sales off only 10% Year over Year

[Kurt_and_Hunter]

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $344.4 billion, a decrease of 1.1 percent (±0.5%) from the previous month and 9.4 percent (±0.7%) below March 2008. Total sales for the January through March 2009 period were down 8.8 percent (±0.5%) from the same period a year ago. The January 2009 to February 2009 percent change was revised from -0.1 percent (±0.5%)* to +0.3 percent (±0.3%).

http://www.calculatedriskblog.com/2009/04/retail-sales-decline-in-march.html

[acmavm]

1. ?? No offense but I don't think anyone really knows how bad it

is. Or how good.

<snip>

Retail sales tumble in March (MUCH worse than expected)

Source: MSNBC

WASHINGTON - Sales at U.S. retailers unexpectedly fell in March, snapping two months of increases, as motor vehicle and electronic good purchases declined, according to a government report on Tuesday that indicated subdued consumer spending amid rising unemployment.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3830465

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3830465

[Kurt_and_Hunter]

2. The headline is a joke

In "1984" people greet every grim development, like the chocolate ration being cut, with: "double plus good!"

Off 10% YoY is big.

I'm a pessimist and even I'm surprised by how bad it is.

You don't expect retail sales to keep declining during the best month for the stock market since 1933.

[denem]

3. Jan & Feb both revised up by .4%

There's more than half the March fall right there.