Retail Sales Data: Economic Stimulus Checks in Action
June 12, 2008 by Miranda Marquit
Filed under Finance
Retail sales data was just released. The verdict? Economic stimulus checks have helped the economy so far by boosting overall retail sales. CNN Money has the numbers on retail sales data:
The Commerce Department reported that total retail sales grew 1% last month, compared to a revised 0.4% gain in April. A consensus of analysts polled by Briefing.com expected sales to rise by 0.5%.
Stripping out volatile auto sales, retail sales rose 1.2% in May, well above the 0.7% increase expected by analysts and the 1% gain posted in April.
My question: How much of those retail sales were for food and gas?
Do you think most of the economic stimulus plan is going into the pockets of Big Oil companies?
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