Another indication the economy is turning.
After a two-year slump, Wal-Mart says it has turned a corner at its stores in the United States.
Sales at American stores open at least a year increased during the last three months, reversing a negative trend that began in 2009, the company announced.
WALMART CEO MIKE DUKE said at yesterday’s annual meeting:
ReplyDeleteWe don’t have a staff of economists but we have over 200m customers around the world to get perspective from. I can’t tell you that I see it getting better.
“The Ceridian-UCLA Pulse of Commerce Index®(PCI®), issued today by the UCLA Anderson School of Management and Ceridian Corporation, fell 1.0 percent in September on a seasonally and workday adjusted basis, following a 1.4 percent decline in August and a 0.2 percent decline in July.”
http://www.ceridianindex.com/
The report’s authors pointed out that over this period the PCI declined at an annualized rate of 4.3 percent, matching the steepest non-recession quarterly decline since the first quarter of 2000.
Top shippers poised to see US$600m loss. Analyst says deficit is likely on fall in demand and freight rates on routes from Asia to North America.
RW, if you know that the "recovery" is merely the product of Bernank inflation, why do you keep using words that convey an impression that the "recovery" is real? I know you put "recovery" in quotes, which is quite clear, but in your headlines, you always make it seem like the economy is actually improving, and that those who say the economy is not improving are dolts.
ReplyDeleteIf I said my position is that the economy is not improving, but is merely being distorted even more by cheap credit, and that the increasing sales numbers are not where they can be sustained, and so on, am I wrong to say "No RW, you're wrong, the economy is not "turning a corner", it is not "improving", it is not "out of the doldrums", it is getting worse and will not turn a corner until the bad debt and malinvestment is liquidated"?
i see more as a sort of misery index, as wal mart is a discount provider. how do these numbers compare with food stamp use?
ReplyDeletethanks, jill
ReplyDeletei like this, a video, which includes trucking activity: http://www.ceridianindex.com/multimedia/video/September-PCI-Falls/