The Briefing Room
General Category => Economy/Business => Topic started by: catfish1957 on October 16, 2020, 02:46:19 pm
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https://www.marketwatch.com/story/us-retail-sales-surge-19-in-september-in-show-of-strength-for-the-economy-2020-10-16?mod=newsviewer_click (https://www.marketwatch.com/story/us-retail-sales-surge-19-in-september-in-show-of-strength-for-the-economy-2020-10-16?mod=newsviewer_click)
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The numbers: Sales at U.S. retail stores surged in September and rose for the fifth month in a row as Americans bought more clothes, went out to eat and splurged on new cars and trucks, suggesting an economic recovery was still well underway at the start of fall.
Retail sales climbed 1.9% last month, the government said Friday. Economists polled by MarketWatch had forecast a 1.2% increase.
Setting aside the large auto segment, retail sales were still quite strong, up 1.5%.
Although retail sales have snapped back quickly to pre-crisis levels and done so far faster than expected, many economists worry a letdown is coming. People are returning to work at a slower pace, the coronavirus is spreading rapidly again, and Washington has failed to pass a second coronavirus-relief bill, triggering fresh worries about the health of the economy.
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I still stand by the fact that we have seen a nice "V" shaped recovery, and though today's report of unemployment is up was not good news, Slow Joe's biden contention that this recovery is "K" shaped is an unabated BALD FACED LIE. Sales would be dipping it this dipshit's comment was correct. Overall the economy is reslient, and seems to be surviving this COVID-19 gut punch. OTOH, a few weeks from now, if we see a Biden win...... Watch for dire predictions on my behalf.
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Could be a Christmas effect already.
Walking through Walmart a month ago I saw Christmas items already being set up for sale.
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Could be a Christmas effect already.
Walking through Walmart a month ago I saw Christmas items already being set up for sale.
I think you make a good point. One thing that has taught us about the pandemic economy, is that shortages and outages are more a rule than the excpetion, like in the past. There has already been plenty of annoucnements pretty much having the retail segment trying to extend Black Friday and season and general in much of a flattened curve of consumption. Again that reality of an elevated early retail sales curve, may be there.
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I think you make a good point. One thing that has taught us about the pandemic economy, is that shortages and outages are more a rule than the excpetion, like in the past. There has already been plenty of annoucnements pretty much having the retail segment trying to extend Black Friday and season and general in much of a flattened curve of consumption. Again that reality of an elevated early retail sales curve, may be there.
Black Friday has become Black week and likely will begin looking like Black Month.
And we ain't talking about history either.
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Could be a Christmas effect already.
Walking through Walmart a month ago I saw Christmas items already being set up for sale.
Though that's been going on for years now, I do know that I've seen a few of my friends and family buying their Christmas gifts early. I am thinking about doing the same.