Stop The Presses. Some Hopeful Economic News!

Just in case you missed it Thursday there was a bit of good economic news to report. New government figures show retail sales jumped in January.

Just in case you missed it Thursday there was a bit of good economic news to report. New government figures show retail sales jumped in January.

The Commerce Department says retail sales numbers jumped in January by one-percent, marking the biggest increase in more than a year. And the Labor Department says new jobless claims dropped slightly last week, though nearly 5 million Americans continued to draw jobless benefits late last month.

Economists aren't suggesting the economy has turned the corner. In fact, some say the reversal is unlikely to last as businesses slashed inventories in December by the biggest amount in seven years. That could mean further cutbacks in production and more layoffs. Economists say we won't know for several more months if this is a sign consumer spending is beginning to pick-up or just a one time bump.

Still, the January figures were far better than the 0.8 percent decline that economists expected.

The Commerce Department report showed strong increases in sales of automobiles and in general merchandise stores.

Nonstore retailers, such as Internet and mail-order shopping, rose 2.7 percent in January, while sales of food and beverages rose 2.1 percent. Health and personal care stores registered flat sales.

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  • by John Location: Tarboro, N.C. on May 23, 2009 at 04:22 AM
    Well, I'd just like to say that if things don't start "looking up," well then we're going to end up like one of the Third World Countries (eg. Port-Au-Prince). The Bush admin. really did a bang-up job, didn't they? But, what can be expected from the rich, or those who endeavor to be rich; Only greed and deception. Look out people, the enemy's on his job to destroy us all. He'll use any and all machinations at his disposal, fair and unfair. Even turning us against one another. Hopefully, there's a man in the White House now, who'll use his God-given talents to turn this thing around. Amen!
  • by tony Location: eastern nc on Feb 25, 2009 at 12:39 PM
    WOW, good times are here again, now maybe I can buy 2 big macs.
  • by Carol Location: Winterville on Feb 15, 2009 at 07:20 AM
    Thanks for a bit of bright economic news! I pray daily that this economy will start an upward spring soon. I hope others will join my in doing the same.
  • by Ted Location: Greenville on Feb 14, 2009 at 12:25 PM
    How is this possible? Didn't Nancy Pelosi say we would be loosing 500 million jobs if the stimulus package wasn't passed? PS: the fact that there are only around 380 million people in the country is irrelevant)
  • by Gator Location: NC on Feb 12, 2009 at 05:59 PM
    I am just surprised the news media reported this.

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