In an uncertain economy, shoppers are choosy again.
Anne D’Innocenzio and Christopher S. Rugaber, AP Business Writers, On Thursday August 5, 2010, 5:35 pm EDT
With the economy only limping along, Americans are once again being choosy at stores, many of them buying only at deep discounts because they can’t shake uncertainty about their jobs.
Retailers around the country posted a sales increase of just 2.8 percent for July over a year earlier — and at that time, the economy looked much bleaker than it does today.
The July figure, released Thursday by the International Council of Shopping Centers based on results from 31 chains, was the fourth straight month of weak retail numbers. For the most part, economists were disappointed.
Without more jobs, Americans are likely to remain cautious with their spending, restraining the economic rebound, they said. But without more spending, companies will likely be slow to hire.
“To break out of this, we need both employment and consumption to come up together,” said Nigel Gault, an economist at IHS Global Insight.
When will we agree the pro big government Obama and Democrat programs have failed and we need to move rapidly away from Keynesian economics back to the free market capitalism that made America what it is.
Big government anti freedom polices have made Russia, WWII Germany, Cuba and Venezuela when they were, are and will be… Failed countries that punished their people and rewarded the ELITIST of GOVERNMENT..
http://finance.yahoo.com/news/In-an-uncertain-economy-apf-3631266616.html?x=0
