Bankrupt retailers indicate trouble for US economy

Interesting NY Times article here about the retailers going out of business or closing stores to stay in business.

Figures released on Monday showed that spending on food and gasoline is crowding out other purchases, leaving people with less to spend on furniture, clothing and electronics. Consequently, chains specializing in those goods are proving vulnerable.

In short, consumers are still spending money – however we spend so much on gas and food that we don’t have much left over for the local shopping mall.

Comments are closed.