Ho Ho Ho

| Wed Jan. 14, 2009 10:11 AM PST

HO HO HO....December sales, as expected, were pretty miserable:

Retail sales tumbled by 2.7% last month from the previous month on a seasonally adjusted basis, the Commerce Department said Wednesday.

....The producer price index, due for release Thursday, is expected to show a 2% drop in prices. Consumer prices due out Friday are expected to have declined 0.8%.

Adjusted for inflation, then, sales were down only 1.9% I'd do better if I could, but that's about the most positive spin I can come up with.

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