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December 13, 2007

To The Sorrow Of CNN And The Dems - 'Retail Sales Surge in November'

Topics: Political News and commentaries

The AP reports (via Washington Times) what can only be described as a "surge" in the economy, again. Clearly, consumers have put aside worries about the weak economy and high gasoline prices, and are storming the shopping malls, having already pushed up retail sales in November. Wholesale prices shot up in November by the largest amount in 34 years.

The Commerce Department reported Thursday that retail sales jumped by 1.2 percent last month, double the gain economists had expected. It was the biggest increase in six months and followed a much weaker 0.2 percent rise in retail sales in October.

Meanwhile, the Labor Department said that wholesale prices jumped by 3.2 percent last month. That was the biggest gain in 34 years and was propelled by a record 34.8 percent rise in gasoline costs. Even outside energy, inflation pressures emerged. Core inflation, which excludes energy and food, posted a 0.4 percent rise in November, double what had been expected.

In another Commerce Department report, business inventories grew by just 0.1 percent in October. That was far below the 0.4 percent rise that had been expected and was the weakest showing since inventories were unchanged in March.

The small rise in inventories was seen as an effort by companies to control inventories in advance of an expected period of sluggish growth.

I just heard CNN report this same news, grudgingly. And at the tale end of the brief report, the CNN reporter added - "but the future looks gloomy," which was subsequently repeated by the CNN cable news anchor. Another incredible case of Left wing bias and CNN staying on message (read as agenda): Gloom and doom on the economy, people - just gloom and doom, regardless of the facts. After all, we are in a political season and the Dems have to try to find something wrong with the economy (even if it's doing well), because the gloom and doom message on Iraq hasn't turned out the way they wanted it to - we're winning.

Posted by Richard at December 13, 2007 10:06 AM

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