Robert Schlesinger

The Retail Spending Drop Is Not the Biggest Ever

November 14, 2008 RSS Feed Print

The 2.8 percent fall in retail sales is the biggest single-month drop ever! Right? Not so much.

Here's the caveat most reports (but not all) aren't noting: "Ever" in this case dates back to ... 1992.

As a Commerce spokesperson told my colleague Terry Atlas, they rejiggered how they measure these things 16 years ago. So it's certainly a steep drop. CNNMoney says it could be the worst since a 6.5 percent drop in January 1987.

But "ever" is along time—certainly longer than 16 or 21 years. 

  • Click here to read more by Robert Schlesinger.
  • Click here to read more about the economy.
Tags:
consumers,
economy,
recession,
shopping

Reader Comments Read all comments (1)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

standing on the tilting deck of the Titanic and telling the crew to put a happy face on - The water's not that cold...

R.L. Schaefer of CA 1:42PM November 14, 2008

Robert Schlesinger

Robert Schlesinger

Robert Schlesinger is managing editor for opinion at U.S. News and World Report, overseeing all opinion editorial content. He is the author of White House Ghosts: Presidents and Their Speechwriters. E-mail him at rschlesinger@usnews.com. Follow him on Twitter: @rschles.

advertisement

Cartoons

Robert Schlesinger

Obama's Mixed-Bag Week

The Obama camp can celebrate Dick Lugar defeat, but should worry about the Scott Walker recall.

Mary Kate Cary

Obama Attacks as Economic Cliff Looms

The president can't afford to talk about the economy, but with a 2013 fiscal time bomb approaching, the rest of us can't afford not to.

Latest Video

advertisement