New York, NY (PRWEB) July 21, 2012
The retail sector reports that sales for June, for stores open at least one year, gained a weak 0.1%, the slowest rise since August 2009, according to Michael Lombardi, lead contributor to Profit Confidential, who notes this was the third month in a row of significant weakness in the retail sector.
In the article ?U.S. Retail Sector Now at Worst Level Since Summer 2009,? Lombardi highlights that when compared to the 6.7% rise in sales in the same period last year for the retail sector, this 0.1% rise in retail sales from last month reveals how weak consumer spending in this supposed economic recovery is.
?Remember, 70% of gross domestic product (GDP) is composed of consumer spending,? says Lombardi.
Lombardi asserts that consumer spending patterns and the retail sector are telling him that corporate revenue growth will continue to be weaker, putting into question the economic recovery and turning the conversation to a possible recession here in the U.S.
Lombardi also notes that at least 15 of the 20 big U.S. retailers within the retail sector missed their sales estimates for the month of June, highlighting the weakness in consumer spending.
?Be careful with that stock market,? says Lombardi. ?The talk in some circles is about how cheap it is selling at. But if more and more companies, including those in the retail sector, come in with weaker earnings, the stock market will look expensive very quickly.?
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $ 300 an ounce. In 2006, it ?begged? its readers to get out of the housing market...before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation?s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi?s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.
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