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Friday, June 16, 2017

US Retail Sales in May are weakest in 16 Months

WASHINGTON (MarketWatch) — U.S. retailers in May reported the biggest decline in sales in 16 months, largely owing to lower gasoline prices and fewer Americans buying new cars and trucks.

Sales at retailers nationwide sank 0.3% last month, the biggest drop since January 2016, the government reported Wednesday. The May sales report was generally weak across the board.

Economists polled by MarketWatch had forecast flat sales in May.

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3 comments:

Anonymous said...

To be expected since the great recession started in 2008. Manufacturing jobs that were the foundation of prosperity, are for the most part gone. All that is left are retail and service jobs, paying slave wages. Costs have gone up and most of us are tapped out. And yet the state and local governments don't have a clue. Still want to raise taxes and spending on a failed system. It's no wonder why there are so many foreclosures and bankruptcy's. Why there are more people on public assistance and welfare than anytime in the history of this nation!
I volunteer at my church to feed the poor. There are many families who have very little left after expenses to purchase food, so we help fill that need through donations from the community. The poor now consist of the employed and unemployed. And you wonder why there is so much anger out there?
Especially when you think about what used to be when this country was booming, and what this country has become now due to free trade, and outsourcing of jobs, and automation, what is a person to do?

Anonymous said...

Spot on 10:18,the reason rent is so high is the high cost of building because of environmental regulations which gov Hogan dare not cut or would have the rath of democrats which don't give a hoot about working families.(notice I did say working.)

Anonymous said...

Bye bye mall....