Consumer Spending was robust in February...or was it? 2 opposing stories! Update

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[ARCHIVED THREAD] - Consumer Spending was robust in February...or was it? 2 opposing stories! Update

Posted: 3/13/2013 5:18:17 AM EDT

Retail Sales Rose In February; Spending Was 'Relatively Robust'
Kathy Bostjancic director of macroeconomic analysis at the The Conference Board research group, says in an analysis sent to reporters that the report's a sign that "consumer spending remains relatively robust."
http://www.npr.org/blogs/thetwo-way/2013/03/13/174183641/retail-sales-rose-in-february-spending-was-relatively-robust

"It's a positive indicator that consumers are adjusting to the higher payroll taxes and higher gasoline prices," Russell Price, senior economist at Ameriprise Financial Inc. in Detroit, tells Bloomberg. "People are encouraged by the employment gains we've seen."

US Consumer Spending Increases At Its Slowest Rate In 12 Months: Analysis
“The combination of elevated taxes, federal tax refund delays, adverse weather and higher gasoline prices clearly curbed shoppers’ ability and willingness to shop in February,” said Rikard Bandebo, vice president and economist at First Data. “The fact that the personal savings rate significantly declined in January and consumers shifted more spending onto credit cards could be a sign that consumers may be overstretched.
http://www.ibtimes.com/us-consumer-spending-increases-its-slowest-rate-12-months-analysis-1119915

Posted: 3/15/2013 5:34:53 AM EDT

[#1]

Consumer Spending Took a Step Back in February
First Data Corporation, a global leader in electronic commerce and payment processing, released its First Data SpendTrendanalysis for the full month of February 2013, compared to February 2012.

SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards, and checks at U.S. merchant locations.

Dollar volume growth slowed to 4.6 percent year-over-year compared to January’s growth of 6.2 percent.
http://www.qsrmagazine.com/news/consumer-spending-took-step-back-february?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+QSR_IndustryNews+(QSR+Industry+News)

Posted: 3/15/2013 5:39:48 AM EDT

[#2]

Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

Posted: 3/15/2013 5:41:27 AM EDT

[#3]

Quoted:
Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

That 4% is mostly inflation. Of course people spent more, they had no fucking choice.

Posted: 3/15/2013 5:41:53 AM EDT

[#4]

I work retail. Our company had the worst month in almost 5 years, this month isn't looking any better. Every merchant in our area that Ive spoke to are saying the same.

Posted: 3/15/2013 5:43:37 AM EDT

[#5]

Quoted:

Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

How do they determine this?

I'm just thinking to myself "Of course spending is up, everything costs more! I need food so... my spending is definitely up."

Posted: 3/15/2013 5:44:49 AM EDT

[#6]

Quoted:

Quoted:

Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

That 4% is mostly inflation. Of course people spent more, they had no fucking choice.

Exactly.

Posted: 3/15/2013 5:53:08 AM EDT

[#7]

I just read about this the other day.

Unadjusted consumer spending for Jan-Feb was down for the first time since 2010

My retail industry saw a 1.6% drop across the board. On a local level, my sales rep for 2 states says sales are "terrible". I've done less than half what I did last Jan and Feb.
All the financial numbers are being heavily spun lately to hide the sharp decline we've seen starting in 4Q 2012

Speed

Posted: 3/15/2013 6:32:00 AM EDT

[#8]

Quoted:
I just read about this the other day.
Unadjusted consumer spending for Jan-Feb was down for the first time since 2010

My retail industry saw a 1.6% drop across the board. On a local level, my sales rep for 2 states says sales are "terrible". I've done less than half what I did last Jan and Feb.

All the financial numbers are being heavily spun lately to hide the sharp decline we've seen starting in 4Q 2012

Speed

Worst March I've ever seen, so far.

Posted: 3/15/2013 6:42:25 AM EDT

[#9]

The increase in spending is due to higher gasoline and food prices.

Posted: 3/15/2013 6:54:17 AM EDT

[#10]

Quoted:
The increase in spending is due to higher gasoline and food prices.

& Firearms and ammo sales!

Posted: 3/15/2013 7:47:20 AM EDT

[#11]

Quoted:

Quoted:

I just read about this the other day.

Unadjusted consumer spending for Jan-Feb was down for the first time since 2010

My retail industry saw a 1.6% drop across the board. On a local level, my sales rep for 2 states says sales are "terrible". I've done less than half what I did last Jan and Feb.

All the financial numbers are being heavily spun lately to hide the sharp decline we've seen starting in 4Q 2012

Speed

Worst March I've ever seen, so far.

Some retailer in certain industries (like auto sales) are doing good, others...not so much

I hear horror stories everyday. A lot of places will be shutting down this year.

Speed

Posted: 3/15/2013 7:51:40 AM EDT

[#12]

You've seen "the panic" and you seriously doubt that consumer spending was up in February? I don't doubt it for a fucking second. We, as in us, have dumped billions into the economy since January, whether some of us actually have it or not.

Posted: 3/15/2013 8:07:08 AM EDT

[#13]

Quoted:

Quoted:
Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

How do they determine this?

I'm just thinking to myself "Of course spending is up, everything costs more! I need food so... my spending is definitely up."

The article says SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards, and checks at U.S. merchant locations. So they tracked the actual dollar amounts people spent. Sure prices have gone up but people aren't cutting back or spending would be down.

You have to look past the drama titles of the articles and look for the facts. Just like "Dicks' Sporting Goods Missed Earnings Estimates". Their sales were still up 17% it just wasn't the 18% or whatever Wall Street expected. People here were bragging that Dick's Sporting Goods lost money last quarter due to their boycott, when they actually had a substantial increase in revenue. You have to read past the titles.

Posted: 3/15/2013 8:26:20 AM EDT

[#14]

Quoted:

Quoted:

Spending was still up over 4% in February compared to a year ago. So the economy is improving despite higher taxes.

How do they determine this?
I'm just thinking to myself "Of course spending is up, everything costs more! I need food so... my spending is definitely up."

The article says SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards, and checks at U.S. merchant locations. So they tracked the actual dollar amounts people spent. Sure prices have gone up but people aren't cutting back or spending would be down.
You have to look past the drama titles of the articles and look for the facts. Just like "Dicks' Sporting Goods Missed Earnings Estimates". Their sales were still up 17% it just wasn't the 18% or whatever Wall Street expected. People here were bragging that Dick's Sporting Goods lost money last quarter due to their boycott, when they actually had a substantial increase in revenue. You have to read past the titles.

http://www.zerohedge.com/news/2013-03-13/adjusted-february-retail-sales-rise-more-expected-actual-retail-sales-post-first-dec
Actual retail sales for February 2013 totaled $381 Billion vs. $382.4 in Feb 2012.

So retail sales are actually down $1.4 Billion in February from Feb 2012...they were also down in January.

Much of the sales we see come from auto sales, Gasoline sales (Up 5%

) and online sales. Sporting goods, furniture, appliances (all industries that traditionally see a boom this time of year) were all down.
Now, the "seasonally adjusted" number shows an increase, but the actual numbers (posted above) are down

Kinda like the negative growth were saw in 4Q 2012 was recently "readjusted" to show a +0.1% growth

It's all bullshit. They are tryng to raise consumer confidence by simply getting people to believe that it's getting better, even though it plunging all of the sudden.

Fucking Newspeak.
Speed

Posted: 3/20/2013 5:57:42 AM EDT

[#15]

Who else thinks that Q1 2013 will be the worst one in a long while?

Posted: 3/20/2013 6:05:57 AM EDT

[#16]

All I know is my sales are down 40% YTD

Posted: 3/20/2013 6:18:37 AM EDT

[#17]

"Lies, damn lies and statistics" Manipulations of stats and data have become an art form under Obama's administration. If we could see the true numbers it would be tar, pitchforks and storming the gates of the Whitehouse.

Posted: 3/20/2013 6:43:40 AM EDT

[#18]

Quoted:

All I know is my sales are down 40% YTD

I'm over 50% lower than what I did last year by this date if it makes you feel any better

Speed

[ARCHIVED THREAD] - Consumer Spending was robust in February...or was it? 2 opposing stories! Update

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