Author Topic: US retail sales suffer steepest drop in nine years  (Read 1515 times)

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Offline mystery-ak

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US retail sales suffer steepest drop in nine years
« on: February 14, 2019, 04:37:03 pm »
US retail sales suffer steepest drop in nine years
By Sylvan Lane - 02/14/19 11:09 AM EST

U.S. retail sales in December suffered their worst decline in nine years, according to Commerce Department data released Thursday, a potential red flag for economic growth.

Advance estimates of December 2018 retail and food services sales, a major driver of the U.S. economy, fell 1.2 percent from the previous month, to $505.8 billion, according to the Census Bureau.

The drop is the steepest plunge in retails sales since August 2009, according to a Bloomberg News analysis of Commerce Department data.

Consumer spending is responsible for roughly 70 percent of U.S. growth and considered a key indicator of future economic conditions. The unexpected December plunge is the latest in a series of signs that growth is starting to slow after gradually accelerating since 2017.

In the wake of Thursday’s dismal sales data, J.P. Morgan slashed its projection for economic growth in the fourth quarter of 2018 from 2.6 percent to 2 percent of gross domestic product on an annualized basis.

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https://thehill.com/policy/finance/430013-us-retail-sales-suffer-steepest-drop-in-nine-years
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Offline Sanguine

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Re: US retail sales suffer steepest drop in nine years
« Reply #1 on: February 14, 2019, 04:38:18 pm »
BKMK

Offline catfish1957

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Re: US retail sales suffer steepest drop in nine years
« Reply #2 on: February 14, 2019, 04:42:52 pm »
BKMK

Wait....  didn't the Trump faction here tell us the economy was booming?
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Online rustynail

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Re: US retail sales suffer steepest drop in nine years
« Reply #3 on: February 14, 2019, 04:57:22 pm »
Because Trump gave all the working peoples Tax Refunds to the 1%.

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Re: US retail sales suffer steepest drop in nine years
« Reply #4 on: February 14, 2019, 05:02:06 pm »
Wait....  didn't the Trump faction here tell us the economy was booming?
Two issues here.
First, this is a 'The Hill' article, which seems to have a Democrat slant.
Second, it is a Commerce Department report. I have to wonder how they calculate retail sales. For example, if they include online sales or only brick and mortar sales. Most things people buy today are bought online.
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If they kill their own with no conscience, there is nothing to stop them from killing you.
Rational fear and anger at vicious murderous Islamic terrorists is the same as irrational antisemitism, according to the Leftists.

Online GtHawk

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Re: US retail sales suffer steepest drop in nine years
« Reply #5 on: February 14, 2019, 09:02:18 pm »
Not my fault, haven't had any extra or any money for close to eight years and refuse to use credit ever again......................even if someone would give it to me.

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Re: US retail sales suffer steepest drop in nine years
« Reply #6 on: February 14, 2019, 09:16:33 pm »
If you step outside this obvious Trump hit piece you will see other perspectives like:

What does it mean for the economy in 2019? Hard to say. The stock market tanked in December and talk of recession briefly became all the rage, and that may have hurt sales.

Yet the stock market rebounded in January, consumer confidence remains high and companies continued to hire at a strong clip. The economy should avoid a recession as long as the labor market remains health, but growth in 2019 is unlikely to match the strong performance of 2018.

Predictions by the "Experts" are all over the board for 2019.  Up/down/flat.  Who knows?

“It’s a puzzle. Strong job gains, wage growth, and the drop in gasoline sales should be very supportive of consumer spending growth,” added Scott Brown of Raymond James.
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Offline IsailedawayfromFR

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Re: US retail sales suffer steepest drop in nine years
« Reply #7 on: February 14, 2019, 11:18:00 pm »
Two issues here.
First, this is a 'The Hill' article, which seems to have a Democrat slant.
Second, it is a Commerce Department report. I have to wonder how they calculate retail sales. For example, if they include online sales or only brick and mortar sales. Most things people buy today are bought online.
I suspect online business is not totally represented here.

The conclusions may be that brick and mortar business are slipping rather than overall retail businesses.

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Offline Fishrrman

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Re: US retail sales suffer steepest drop in nine years
« Reply #8 on: February 14, 2019, 11:26:41 pm »
Just did my part -- bought a new Brother laser printer today.
$130 at Walmart, copies and scans, too.

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Re: US retail sales suffer steepest drop in nine years
« Reply #9 on: February 14, 2019, 11:44:37 pm »
Just did my part -- bought a new Brother laser printer today.
$130 at Walmart, copies and scans, too.
Wow. That brings back memories. Definitely remember having a printer at home.
I haven't had a need to copy something at home in over a decade. I live in a paperless world I guess?
You cannot "COEXIST" with people who want to kill you.
If they kill their own with no conscience, there is nothing to stop them from killing you.
Rational fear and anger at vicious murderous Islamic terrorists is the same as irrational antisemitism, according to the Leftists.