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Restaurant sales Down for June!!!     14-Jul-09 08:57 am    
DATA SNAP:

.==================================================== =
US Retail Sales Jun May ! Consensus: !
Overall: +0.6% +0.5% ! +0.5% !
Ex-Autos: +0.3% +0.4%r ! Actual: !
! +0.6% !
=====================================================

By Jeff Bater
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--U.S. retail sales increased more than expected during June, but the second gain in a row was caused by purchases of gasoline and automobiles.

Retail sales climbed 0.6%, after rising an unrevised 0.5% in May, the Commerce Department said Tuesday.

Economists surveyed by Dow Jones Newswires forecast a 0.5% increase in June.

Yet excluding autos and gas, all other retail sales fell a fourth straight time. Housing-sector sales dropped, as did restaurants, health stores, and department stores. People are reluctant to spend because of high job losses, depleted wealth, and debt burdens. The unemployment rate rose to 9.5% in June, a 25-year high. A Federal Reserve report June 11 said total net worth of households fell 2.6% in the first quarter.

As Obama administration aid lines peoples' pockets, they're boosting savings. A Commerce report June 26 said personal income in May rose at a seasonally adjusted rate of 1.4% compared to the month before. The jump reflected reduced taxes and increased social benefit payments unleashed by the stimulus package signed in February by Barack Obama. That report showed consumer spending climbed a mild 0.3%, while the saving rate rose to 6.9%, the largest since December 1993.

Auto and parts retail sales in June surged 2.3%. Excluding autos, all other sales rose 0.3% - well below the 0.6% gain expected by economists. Auto sales rose 0.7% in May and ex-auto sales that month were up 0.4%.

June filling station sales rose 0.5%. Excluding gasoline sales, other retailers' sales increased 0.3%. An increase in gas prices this year has helped drive up station receipts. Prices rose about a dime a gallon in June.

Retail sales excluding autos and gas decreased 0.2% in June.

Furniture retailers fell 0.2% and building material and garden supplies dealers were down 0.9%.

Health and personal care stores fell 0.3%. Restaurants and bars dropped 0.9%. Clothing store sales were flat. General merchandise stores tumbled 0.4%.
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  Subject Author Rating Time of Post (ET)  
 
Restaurant sales Down for June!!!
datbehardwo... 14-Jul-09 08:57 am  
 
dont worry, the latest chilis promo will help EAT
redzombie85 (1 Rating) 21-Jul-09 02:24 pm  
 
People got to eat though? American women don't kn...
rwbarrett10... Rate it 5-Oct-09 03:22 pm  
 
They had an 8.5% drop in PP and E and a 2.4% ...
msch8864 Rate it 20-Oct-09 11:37 am  
 
I bet you have a point. Would you mind e...
filosofer98... Rate it 22-Oct-09 09:10 pm  
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Brinker International Inc. (EAT)

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