Do-It-Yourself Boost for Economy
Strong second-quarter revenue growth at home improvement giants Home Depot (HD) and Lowe's (LOW) should dampen recent speculation that the economy could be falling into another recession, retail analysts say.
"It's very unlikely we're going to see a recession right now," said Craig Johnson, president of Customer Growth Partners, a retail consultant firm. "The economy had clearly hit a speed bump in early June at the peaking of gas
Home Depot reported Tuesday that second-quarter sales jumped 11% to $19.96 billion with earnings excluding items of 71 cents a share. That easily surpassed the consensus estimate for 64 cents a share. Lowe's
"I don't see a recession in the near term," said Charles Georgas, a vice president at Marquis Investment Research. "I think
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