Just when you thought the media finally acknowledged there was no Obama Boom, they resurrect it. After months of reports saying “less than expected” a new term has been coined. Now it’s ” less than expected.” If economic data is not as bad as expected, it’s considered good and a sign that good times are ahead!
U.S. retail sales fell in May for the first time in 11 months as receipts at auto dealerships dropped sharply, but the decline was less than expected, offering hope of a pick-up in economic activity.
Total retail sales slipped 0.2 percent, the Commerce Department said on Tuesday, after a 0.3 percent rise in April.
Economists had expected retail sales to fall 0.4 percent.
A separate report from the Labor Department showed producer prices rose 0.2 percent, braking sharply from April’s 0.8 percent increase.
“The consumer isn’t dead. It’s good news for the day, and further evidence that while perhaps not robust, the recovery is bumping along in fits and starts,” said Michael Farr, president of Farr, Miller & Washington in Washington.
Read the rest: Retail Sales Slip, Inflation Up as Economy Creeps Along
No the consumer isn’t dead, but our wages are stagnant and jobs are hard to come by. The Media shows their psycho-pant attitudes towards Obama. Bad economic news is good, if it’s not bad as expected. Anything to prop up their beloved Barack Hussein Obama.
Tags: Inflation, Obama Boom, Retail Sales, Stagflation
