U.S. Retail Sales Unexpectedly Declined in February
[Quote:]
Retail sales in the U.S. unexpectedly fell in February, indicating that declines in payrolls and home values and a surge in energy costs have tipped the economy into a recession.
Purchases dropped 0.6 percent last month, led by declines at auto dealers and restaurants, after a 0.4 percent gain in January, the Commerce Department said. Purchases excluding autos declined 0.2 percent.
[..]
A Bloomberg survey of 79 economists forecast total retail sales would rise 0.2 percent, following an originally reported 0.3 percent gain the prior month. Sales excluding autos were also forecast to rise 0.2 percent.
The Euro is probably going to his $1.60 sooner rather than later. On november 20th, 2000, the rate was $0.8384, so we’re pretty close to the Euro doubling in value compared to the dollar, in less than eight years.
Woa.