Retail Sales on Goods Up 0.5%

Despite the rosy picture that is being painted by the Commerce Department and economists, retail sales on goods are actually down. The reason statistics show a 0.5% rise in retail sales is because of the higher price of fuel and food, which drives up the original costs of goods. Because of higher fuel prices, people are actually buying less luxury items and spending more on necessities, in anticipation of a growing recession. The figures don’t lie; our GDP is down and the number of unemployed is up; but we have grown accustomed to having a spin put on bad news.

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Retail sales rise 0.5%