Stimulus Checks Not Encouraging Consumers To Spend

Despite the billions of dollars (with a b) which are suddenly floating around our economy, courtesy of the federal government in the form of a stimulus packge, June retail industry sales didn’t move much at all.

The National Retail Federation reported that retail sales last month edged up 0.2% over May. Retail sales figures do not include sales of automobiles, or gas station and restaurant receipts. If you take those excluded sources into consideration, the U.S. Commerce Department reported that retail sales actually decreased 0.1% from May to June.

It’s pretty grim news all around. The chief economist for the NRF commented, “As retailers enter the back-to-school season, they will have to be creative in finding ways to get consumers to spend on discretionary items.”

Oh boy, I sure hope so. I have three kids to buy back-to-school items for…

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4 thoughts on “Stimulus Checks Not Encouraging Consumers To Spend

  1. I am wondering with the price of gas and food, will the government up the cola’s on
    social security and military retired pay.
    Everyone should start bugging congress, but I doubt that it would do any good. Thank you for letting me comment.

  2. And Congress is rushing to the rescue by considering a second rebate stimulus package – hurray!

    Isn’t doing the same thing over and over while expecting different results the definition of insanity?

  3. All I want to know is how many tanks of gas you can fill with a stimulus check before you run out of money?? 🙂

  4. Buying votes has never been more popular. $1200 here $1200 there and then the geniuses in DC wonder why the dollar’s falling like a rock and the debt is at $10 Trillion.

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