Quote:
Originally posted by LubeMaster77
So, help me out - hearing the doom & gloom from the left got me concerned - but I can't find it!
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Michael, I don't think the below is particularly good news especially considering Bush won with majority populace confidence and therefore you'd expect a significant corresponding uptick in purchasing confidence.
December 22, 2004
Retail Sales Decline 5.9 Percent For Week Ending December 18
ShopperTrak's National Retail Sales Estimate (NRSE) reported that U.S. retail sales for the week ending December 18 fell 5.9 percent as compared to the same week in 2003, with combined Saturday and Sunday sales falling 3.3 percent versus the same two-day period last year. While the Saturday before Christmas is typically the number one shopping day of the holiday season, preliminary reports show that Black Friday may have been stronger in 2004, just as it was in 2003. Prior to last year, the Saturday before Christmas was the most popular shopping day of the season three consecutive years.
"While there is some concern regarding the continued retail sluggishness this season, consumers have an additional two days this year to finish their holiday shopping, which may boost this season's final retail performance," said Michael Niemira, chief economist and director of research for the International Council of Shopping Centers. " Retailers should remain optimistic as sales momentum is likely to finish the month of December much stronger than it has been tracking through mid-month as last minute shoppers and post-Christmas gift card redeemers come out in force."
Initial estimates indicate that Saturday's sales performance was down nearly 7.0 percent as compared to the same shopping day last year. To date, average weekly sales for December, versus the same period last year, fell 3.4 percent.
Developed by ShopperTrak, the NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department's GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistic, as well as ShopperTrak's proprietary industry intelligence on shopper movement and sales statistics.