Black Friday Results Show Economy Not So Bad

by Sal on November 30, 2008

in Economy,Media,Politics

Black Friday 2008 Retail sales rose 3% during this supposedly “Second Great Depression” year.  It is the smallest gain in three years (retail sales declined 0.3 in 2005, an otherwise good economic year). So in spite of all the “Sky is Falling” news surrounding the economy, and in spite of hysterical drive-by media coverage over the weekend, things aren’t so bad.

U.S. holiday retail sales increased 3 percent yesterday from a year earlier, the smallest gain for a “Black Friday” in three years, research firm ShopperTrak RCT Corp. said.

Sales rose to $10.6 billion, the Chicago-based company said in a statement. The increase was the smallest since a decline of 0.9 percent in 2005 and compares with a jump of 8.3 percent last year.

Makes one wonder what to believe in regards to where this economy is and where it is going.  Maybe McCain was right when he said that “The Fundamentals of our Economy are Strong.

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