Tuesday, April 26, 2005

Consumers are Shaken

http://www.nytimes.com/reuters/business/business-economy-retail-redbook.html
Chain Store Sales Fall
By REUTERS Published: April 26, 2005

Sales in April to-date were down 3.8 percent compared with March. Sales at major retailers rose by 1.5 percent on a year-over-year basis for the week ended April 23, said Redbook Research, an independent company.

http://www.nytimes.com/aponline/business/AP-Economy.html?
Consumer Confidence Dips; New Home Sales Up
By THE ASSOCIATED PRESS Published: April 26, 2005

But a sub-index measuring consumers' expectations for the coming months fell to its lowest level since July 2003

The later article pointed to a highly volatile Housing market with New Home Sales shooting up. Economists accept this as a good Sign, but it could be a Two-Edged Sword. Consumers have been paying down their Credit Card debt, and the later article notes Consumers are less confident their Incomes will increase in the coming months. The Housing Sales this Year could present a Warning sign, Consumers all knowing Housing is immune from Bankruptcy condemnation. This is a weak Argument, except for the rapid Consumer consolidation into Mortgage debt. lgl

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