Archive for the ‘inventories’ Category

Economy Shrinking: Expects More Gloomy Retail, Inventory Data

December 12, 2008

The government is expected to provide fresh evidence Friday that retailers are taking a hit as consumers continue to pull back amid what appears to be a deepening recession.

By CHRISTOPHER S. RUGABER, AP Economics Writer

Wall Street economists expect retail sales in November fell 1.9 percent, according to a survey by Thomson Reuters.

That would be an improvement over October’s record 2.8 percent drop, but still the fifth straight monthly decline reported by the Commerce Department.

The report comes a day after the Labor Department said initial jobless claims rose to the highest level in 26 years, though the work force has grown by about half over that time.

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http://news.yahoo.com/s/ap/20081212/ap_on_bi_ge/financial_m
eltdown;_ylt=AvwGdvV5Q365QBdEoTuZhHSs0NUE

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