US retail sales suffer steepest drop in nine years

[Guno צְבִי]

MAGA Rubes

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.


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.

https://thehill.com/policy/finance/4...-in-nine-years

[Vasquezrocks]

As it has done the past several years the day after Christmas, Amazon*on Wednesday put out a list of its accomplishments from this year's holiday season. Among the data points and assorted claims, the company says it's become more ingrained in our holiday celebrations: Customers around the globe ordered more items from the retail giant this holiday shopping season than ever before.*

[Guno צְבִי]

As it has done the past several years the day after Christmas, Amazon*on Wednesday put out a list of its accomplishments from this year's holiday season. Among the data points and assorted claims, the company says it's become more ingrained in our holiday celebrations: Customers around the globe ordered more items from the retail giant this holiday shopping season than ever before.*

poor reading comprehension?

[Vasquezrocks]

poor reading comprehension?

Says the stupid moron .....

[ThatOwlWoman]

MAGA Rubes

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.


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.

https://thehill.com/policy/finance/4...-in-nine-years

WSJ is reporting the same drop. And from your article:

"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."

Oops, there goes Toadstool's winning GDP growth.

[Centerleftfl]

WSJ is reporting the same drop. And from your article:

"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."

Oops, there goes Toadstool's winning GDP growth.

Wait'll JAN #S come out for a whole host of metrics. Remember the FED LAYOFFS were most days in JAN.

[anatta]

ROFL...it's a ONE MONTH comparison -not a QUARTERLY comparison..In other words only comparing December with previous years. inother words too small a time frame to have any meaning

GDP come out end of this month for ENTIRE 2018 as well as Q4 - we should hit GDP 2018 of 3% easily

[kudzu]

WSJ is reporting the same drop. And from your article:

"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."

Oops, there goes Toadstool's winning GDP growth.

People on a fixed income have less discretionary spending in part because groceries and essentials cost more... Lots of people shopping in thrift shops and second hand shops these days.

[ThatOwlWoman]

People on a fixed income have less discretionary spending in part because groceries and essentials cost more... Lots of people shopping in thrift shops and second hand shops these days.

I'm glad that gas prices have fallen some though, and seem to be holding steady. That's one of the inflationary things that negatively affects lower-income and fixed-income ppl the most.

[LV426]

ROFL...it's a ONE MONTH comparison -not a QUARTERLY comparison..In other words only comparing December with previous years. inother words too small a time frame to have any meaning GDP come out end of this month for ENTIRE 2018 as well as Q4 - we should hit GDP 2018 of 3% easily

Keep trumpeting your GDP growth.

Meanwhile, 2018 revenues were down 2% from 2017.

So the premise that cutting taxes will somehow unleash economic activity that generates increased revenues is utter horseshit.

Receipts
Jan-2017: $344,069
Feb-2017: $171,713
Mar-2017: $216,584
Apr-2017: $455,605
May-2017: $240,418
Jun-2017: $388,660
Jul-2017: $232,040
Aug-2017: $226,311
Sep-2017: $348,722
Oct-2017: $235,341
Nov-2017: $208,374
Dec-2017: $325,797
Total-2017: $3,393,634

Receipts
Jan-2018: $361,038
Feb-2018: $155,623
Mar-2018: $210,832
Apr-2018: $510,447
May-2018: $217,075
Jun-2018: $316,278
Jul-2018: $225,266
Aug-2018: $219,115
Sep-2018: $343,559
Oct-2018: $252,692
Nov-2018: $205,961
Dec-2018: $313,000
Total-2018: $3,330,886

$3,393,634- $3,330,886 = $62,748

Revenues are down 2%.

[ThatOwlWoman]

ROFL...it's a ONE MONTH comparison -not a QUARTERLY comparison..In other words only comparing December with previous years. inother words too small a time frame to have any meaning

GDP come out end of this month for ENTIRE 2018 as well as Q4 - we should hit GDP 2018 of 3% easily

You might want to actually read the OP link's article. Here, I'll quote from it again, with highlights for the fact-impaired.

"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."