The retail sales in November were higher then expected. The fact that the consumers don't seem to care that much about the high energy prices and the crisis in the housing market may be an indication that the economy is doing better then it seems.
In November the retail sales increased by 1.2% when it was only expected to rise with 0.6%. In October it only rose 0.2%
These numbers really show were the people are spending their money. The luxury car sales rose 1.8%, the gas sales rose, boosted by the high energy prices, with 6.8%, this is the biggest increase in 2 over years. The other big increases were in the electronic (+2.5%), clothes (+2.6%) and the sportinggoods (+2.2%) sales.
Many economists fear that the American economy will have a recession in 2008. It will depend mostly on what the consumers will do.
I thought that for my final blog I would give some good news. As it seems that alot will depend on how the american consumer will react, this is indeed good news cause they are showing signs that the economy is in a better shape then we expect.
On this last postive note I will say goodbye. Let us hope that the economy can survive this and that I will get better again.
Sincerely yours,
Nico Cottry
Source: http://www.tijd.be/artikel/Retailverkopen_VS_onverwacht_sterk.6022565
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