The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: nextrade! who wrote (25447)	11/28/2004 3:48:26 PM
From: nextrade!	Read Replies (1) of 306849

Wal-Mart sales stoke recovery fears By James Politi in New York and Chris Giles in London Published: November 28 2004 19:25 \| Last updated: November 28 2004 19:25 news.ft.com Worries about the sustainability of the US economic recovery were stoked om Sunday after the stores group Wal-Mart, seen as a bellwether for the country's retail sector, announced that sales had grown by only 0.7 per cent in the year to November - a much lower rate than the 2-4 per cent increase Wal-Mart had estimated just 10 days ago. The world's largest retailer revised its estimates down on Saturday evening after disappointing sales on "Black Friday", the day after Thanksgiving and traditionally one of the biggest shopping days in the US. The retailer reported that sales had fallen "below plan" in the last week of November and sales growth was down on the 2.8 per cent annual rate it had reported for October. The weakness suffered by Wal-Mart, if reflected elsewhere, would add to concerns about the durability of the economic upturn. Any widespread reluctance by consumers to maintain their free and easy spending habits would slow the economy sharply.

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