I’m sureconsumers will start spending again when Chimpy’s stimulus package kicks in this summer.
There is more evidence of a stumbling economy this morning.
The nation’s retailers are reporting weak sales for January. The figures show shoppers have gotten even more tight-fisted since Christmas. The reports underscore how consumers are being hit by the high prices of gas and food, the housing slump, the growing credit crisis and a weakening job market.
Wal-Mart, the world’s biggest retailer, reports a slim half-point gain in sales at stores open at least a year. Those sales are considered the best measure of a retailer’s health. Analysts had expected a two-percent increase for Wal-Mart.
Limited Brands reports an eight-percent drop in January. Pacific Sunwear sales were off seven-point-four percent. Wet Seal Inc. dropped five-point-seven percent.