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	<title>Michael Gracie &#187; consumer credit</title>
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	<pubDate>Sun, 05 Oct 2008 15:02:49 +0000</pubDate>
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		<title>Retail inflation portends burgeoning consumer credit</title>
		<link>http://michaelgracie.com/2008/05/13/retail-inflation-portends-burgeoning-consumer-credit/</link>
		<comments>http://michaelgracie.com/2008/05/13/retail-inflation-portends-burgeoning-consumer-credit/#comments</comments>
		<pubDate>Tue, 13 May 2008 15:41:57 +0000</pubDate>
		<dc:creator>Michael Gracie</dc:creator>
		
		<category><![CDATA[Office]]></category>

		<category><![CDATA[consumer credit]]></category>

		<category><![CDATA[inflation]]></category>

		<category><![CDATA[retail sales]]></category>

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		<description><![CDATA[April retail sales rise:
Soaring fuel bills and a deteriorating job market haven&#8217;t stopped consumers from spending.  Retail sales excluding cars rose 0.5 percent in April, more than twice what economists had forecast, a Commerce Department report showed in Washington today.
Retail sales weren&#8217;t too shabby in March either.  Nor was the expansion of consumer [...]]]></description>
			<content:encoded><![CDATA[<!-- sphereit start --><p><a href="http://www.bloomberg.com/apps/news?pid=20601068&amp;sid=aleY4P9UQwJM&amp;refer=home">April retail sales rise</a>:</p>
<blockquote><p>Soaring fuel bills and a deteriorating job market haven&#8217;t stopped consumers from spending.  Retail sales excluding cars rose 0.5 percent in April, more than twice what economists had forecast, a Commerce Department report showed in Washington today.</p></blockquote>
<p>Retail sales weren&#8217;t too shabby in March either.  Nor was the expansion of consumer credit that month - <a href="http://www.forbes.com/markets/feeds/afx/2008/05/07/afx4981900.html">more than double expectation</a>.  Meanwhile, <a href="http://calculatedrisk.blogspot.com/2008/05/real-retail-sales.html">in inflation adjusted terms sales are sucking wind</a>.</p>
<p>Has plastic use doubled down again?</p>
<p>UPDATE: <a href="http://bigpicture.typepad.com/comments/2008/05/april-retail-sa.html">Take out non-discretionaries</a> and it&#8217;s really quite ugly.</p>
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