Economic Recession Looms

Posted by Louis Navellier on 8/7/08 9:43 am

Now that the government’s stimulus checks have been exhausted, retailers are getting a dose of reality. Of the 36 retailers that have reported July sales figures, 22 announced disappointing results. Even Wal-Mart missed its target. Costco had a good month, but it had to sacrifice operating margins. The bottom line is a recession is looming now that consumers are cutting back.

See July Retail Results.

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Posted by aWriter on 8/11/08 2:07 pm

Looming is an imprecise word, Louis. Try the American Institute for Economic Research’s report fro August 14-18, 2008 to see a bit more precision. AIER presents more indicators than the single one you cited. In fact, retail sales is not one of the 24 indicators used to assess business-cycle conditions in the USA by AIER. Nevertheless, AIER does say, “Our indicators continue to signal that a business contraction is likely.” No looming tho’.

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