Legal Commentary

Demand Down: Retail Sales Slip In March

By Big Tent Democrat

The bad economic news continues:

Two months of tentative gains in retail sales slid backward in March, the government reported on Tuesday, signaling more weakness in demand as worried consumers continue to tighten their budgets. The 1.1 percent monthly drop in retail sales displayed the fragility of some recent “glimmers of hope” in the economy cited by President Obama and other policy makers as they press the administration’s economic agenda.

Are some folks are whistling past the graveyard?

In an address at Georgetown University, Mr. Obama said the $787 billion stimulus plan and a litany of other recovery measures by the government and the Fed were “starting to generate signs of economic progress.” . . . Mr. Bernanke said there were “tentative signs that the sharp decline in economic activity may be slowing.” He pointed to data on home sales, home construction, consumer spending and auto sales, which have offered some hints of improvement — or, at least, less-severe declines — in recent weeks.

Let's hope they know what they are doing.

Speaking for me only

Full post as published by TalkLeft on April 14, 2009 (boomark / email).