HTT:
Retailer same-store sales for the third week of May rose 1.7%, keeping the month-to-date gain at 1.8%, the Johnson Redbook reported today. Department store operators were slightly exceeding plan, while discounters were just a bit under their goal.Month-over-month performance showed a 1.9% gain over April, in line with the target, said Redbook analyst Catlin Levis. The four-week retail month ends on May 31.
“Some retailers said the pace of sales was uneven in the beginning of the week but picking up as we approached the Memorial Day weekend,” Levis noted. “Seasonal merchandise was reported to be selling well where temperatures have been warm. Promotional and competitive pricing also helped sales, especially among moderately priced sectors. Discounters reported strong business in the food division ahead of the long weekend.”
NYTIMES: Unexpected Strength in Durable Goods
A crucial measure of business spending declined less than expected in April, a sign that businesses may be breathing easier about the economy, although orders of cars and computer equipment still dipped, the government said on Wednesday.TOO BAD FOR THE DEMS THE ECONOMY IS NOT AS BAD AS THEY'D LIKE!
Over all, manufacturing orders fell 0.5 percent last month, to a seasonally adjusted $214.4 billion, after slipping 0.3 percent in March, the agency said. Although it was the third decline this year, the dip was less severe than economists had forecast.
The Commerce Department report measures orders of durable goods, those intended to last three years or more, which provide a sense of willingness among businesses to make long-term investments in capital equipment.
The April report sent signals that some domestic companies think the worst may be over for the economy.
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