Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
March Retail Sales See Biggest Drop In Months
WASHINGTON (4/15/13)--With employment slackening, U.S. retail sales decreased in March by the most in nine months, according to Commerce Department figures released Friday.

The decline indicates households were less stable at the end of the first quarter, and that tax increases at the beginning of this year have zapped energy from the economy (Bloomberg.com and The New York Times April 12).

Retail sales fell 0.4% in March, the department said, bolstering the view that the economy's struggles are ongoing and that it hasn't performed at the level analysts had forecast just a few weeks ago, the Times said. Several analysts now have downgraded their first-quarter forecasts, the Times added. 

The increase in the payroll tax is a negating factor, Ian Shepherdson, an economist at Pantheon Macroeconomic Advisers in New York, told the Times.

Heading into the second quarter there is no economic momentum, Ellen Zentner, a senior economist at Nomura Securities International Inc. in New York, told Bloomberg.

To adjust their spending accordingly, households now have to make difficult choices, Zentner added.
Other Resources

CUNA’s Data & Statistics
RSS





print
News Now LiveWire
Power hour: Royal #creditunion volunteers make 60 minutes count http://t.co/Qm3iQUO3oh
40 minutes ago
#NewsNow LinkedIn group a new home for bank-to-CU employees http://t.co/24bNaDd1YN
1 hour ago
Effective March 1, @MasterCard will allow its U.S.-issued cards to be used in Cuba http://t.co/mg6puyGWe7
1 hour ago
Using #ApplePay at the register? What if you were asked to show photo ID? Lawmaker considers it http://t.co/EwIu2iM1Rd @pymnts
2 hours ago
.@TheNCUA's #RBC2 will be published in tomorrow's (1/27) @FedRegister, which will start the proposal's 90-day comment period.
2 hours ago