June 12, 1987 |
Retail sales fell 0.6 percent in May, the biggest decline in four months, the government said yesterday in a report that raised new concerns among economists about a possible recession. The Commerce Department said sales dipped to a seasonally adjusted $124.0 billion last month, after a revised 0.2 percent April increase to $124.8 billion. The decline was heavily concentrated among expensive durable goods, including cars and furniture. Since February, retail sales have been essentially flat as consumers, burdened by high debt levels and weak personal income growth, have cut back sharply on purchases of such discretionary items.
December 12, 1992 |
Retail sales rose in November for the fifth straight month, heralding good holiday sales, while consumer prices barely budged, reassuring analysts that inflation was being held in check. "It's more or less the best of all worlds," said economist Bruce Steinberg of Merrill Lynch Capital Markets in New York. "The economy is beginning to improve, and inflation remains subdued. " November's retail-sales increase was a modest 0.4 percent, but it followed a sharply revised increase of 1.9 percent in October sales.
June 14, 1991 |
Retail sales rose in May for the third time in four months, the government said yesterday, providing fresh evidence of economic recovery. Sales climbed 1 percent, to a seasonally adjusted $152.5 billion, the Commerce Department said. The increase, the largest in three months, followed a drop of 0.4 percent in April and gains in March and February. "It's not an ebullient, sparkling picture for retailers, but the evidence is now very convincing that retail sales certainly have stabilized and are starting to increase a little," said Norman Robertson, chief economist at Mellon Bank in Pittsburgh.
October 14, 1994 |
Retailing in the Philadelphia area shrank between 1987 and 1992, largely because of the recession, according to economic data being released today. But if you sold books, or hawked goods through the mail or on television, or ran a drugstore, those were relatively fat years even after adjusting for inflation. Retail sales totaled $37.6 billion in the Philadelphia area in 1992, down 2 percent from 1987 in inflation-adjusted dollars, according to the 1992 Census of Retail Trade, which is being released by the U.S. Census Bureau today for Pennsylvania.
February 14, 1990 |
Retail sales rose 1.6 percent in January, the sharpest gain in more than a year, the government said yesterday. Although much of the increase was a result of a spurt in auto sales brought on by cash rebates and other incentives, analysts said it demonstrated that consumer confidence was strong enough to hold off any recession. "Consumer spending is still alive," said John Silvia, an economist with Kemper Financial Services in Chicago. Most categories showed advances that "suggest to me that the consumer is coming back in the first quarter, taking up his normal pace of spending.
July 15, 2006 |
Shoppers unexpectedly cut back spending slightly in June as high gasoline prices dampened purchases of other goods, a fresh indication of a cooling economy. The Commerce Department said yesterday that retail sales fell 0.1 percent in June. It was the first monthly drop since February and reflected fewer purchases of autos and electronics. The new figure is an another sign that gasoline prices "are beginning to bite and are beginning to squeeze consumers pretty hard," said Nariman Behravesh, an economist with Global Insight in Lexington, Mass.
June 14, 2013 |
WASHINGTON - Americans stepped up purchases at retail businesses in May, spending more on cars, home improvement, and sporting goods. The gain shows that consumers remain resilient despite higher taxes and could drive faster growth later this year. The Commerce Department said Thursday that retail sales increased 0.6 percent in May from April. That's up from a 0.1 percent gain the previous month and is the fastest pace since February. The gain was led by a 1.8 percent jump in auto sales, the biggest increase in six months.
January 15, 1993 |
Three signals flashed by the government yesterday showed that the U.S. economy was continuing to rebound from the recession - but that the recovery would take some steps backward, especially in the jobs market. In one indicator, The Commerce Department said retail sales jumped 1.2 percent in December as a credit-buying binge by consumers gave businesses their best Christmas in five years. Analysts said the increase reflected rising consumer confidence since the presidential election in November.
November 21, 1999 |
When retailing giant Gap was looking for a prime site to roll out its new GapBody product line featuring lotions, scents and underwear, it could have chosen any number of existing store locations. New York. L.A. London. Miami. But one spot stood out from all the rest: The Cherry Hill Mall. The debut last year of GapBody, the first in the world, is but one example of the dozens of retailers - from single-story specialty shops to colossal megastores - that have set up shop in the late '90s to cash in on consumer spending in the Philadelphia suburbs.
February 12, 1988 |
Retail sales rose 0.5 percent in January, providing evidence that consumer confidence has nearly recovered from the October stock-market crash, some economists said yesterday. Retail establishments sold $128.1 billion in goods in January, up about $600 million from December, the government said. It was the third consecutive increase and the highest monthly total since August, when sales reached $128.9 billion. The Commerce Department also revised earlier estimates for December and November, showing better sales than previously thought.