Wednesday, May 13, 2009

Not Over

I hope I'm wrong, but I really have been puzzled by optimistic noises people have been making about the economy. I just haven't seen it in the data.

The Commerce Department reported that retail sales fell a seasonally adjusted 0.4 percent last month, a worse drop than expected. Economists predicted that sales would be flat, their declines halted by increases in consumer confidence and some signals that traffic in stores was improving.