Tuesday, May 24, 2011

Richmond Fed: More Bad News

Karl Denninger submits:

Nothing good in here...

Service sector activity slowed in May, according to the latest survey by the Federal Reserve Bank of Richmond. Retail sales dwindled as shopper traffic dropped sharply; big ticket sales remained in decline. Revenues also weakened at non-retail services firms. Looking ahead six months, retail merchants pulled back from their optimism of a month ago. Non-retail services providers maintained a positive outlook, but were less upbeat than in April.

Service sector revenues softened in May, pulling the index to 9 from 28.


The internals were NASTY on retail traffic and sales

Complete Story »

Shana Hiatt Tara Conner Drea de Matteo Trista Rehn Moon Bloodgood

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