Doomsday Scenario: Chain store sales down 5%, Wal-Mart hides, hotel rates plunge - Alex Salkever

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Doomsday Scenario: Chain store sales down 5%, Wal-Mart hides, hotel rates plunge
Jun 04, 2009 10:40 PM UTC

Alex Salkever

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Via BloggingStocks:

Filed under: Economic data

To counter balance all the green shoots talk, take a walk on the dark side.

Exhibit 1: Chain Stores sales declined 5% in May, a significant decline that did exclude giant Wal-Mart. Guess Joe Consumer still doesn't feel up to shopping much. And Wal-Mart said it will stop reporting monthly sales figures, something that many economists and investors find troubling because that will mean they are losing a key indicator on consumer spending.

Exhibit 2: May Non-Manufacturing ISM numbers are showing weakness, according to Mish. That's bad news because the U.S. is increasingly a services economy! For the travel industry (via AnalystBlog), more bad news as weekly average hotel room rates fell to the lowest level of the year -- which is odd because the summer travel season is beginning!

Alex Salkever is Director of Research at Piqqem, a stock prediction community powered by the Wisdom of Crowds.

Doomsday Scenario: Chain store sales down 5%, Wal-Mart hides, hotel rates plunge originally appeared on BloggingStocks on Thu, 04 Jun 2009 17:40:00 EST. Please see our terms for use of feeds.

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