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September 12, 2008
Weak Demand Takes Its Toll On August Sales
Specialty retailer’s sales dipped in August, as consumers continued to concentrate on buying staples such as groceries and gas, the Commerce Department said Friday.
Sales were down 0.3% in August compared to July, but were up 1.2% against a year ago.
Clothing and accessories were some of the hardest hit categories, despite expectations for a strong back-to-school shopping season.
Economists predicted that consumer spending would continue to drop this quarter, and then rebound slightly for the holiday season.
Posted by Blacks on September 12, 2008 10:32 AM
