Consumers spent less than expected in July as a pullback in auto sales helped cool an economy struggling to shake off the effects of the coronavirus pandemic.
Retail sales rose 1.2% for the month, against the expected increase of 2.3% from economists surveyed by Dow Jones.
The news wasn't all a letdown, however: Excluding autos, the gain was 1.9%, ahead of the 1.2% estimate. A separate report also showed that worker productivity rose at its fastest pace in 11 years, up 7.3% annualized for the second quarter and well ahead of the 1.5% Reuters estimate.
Overall, it was the third straight monthly increase.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
9 comments:
Yup! And I got big plans for my next stimules check too!
ONLY until the checks run OUT !!! Then there will be sharp decline !!!
Better BUY Toilet paper !!! You will soon again Need it !!!!
Buy Stock in that !!! A shure Thing !!!
Yet, somehow, Orange Man bad.
Worker productivity rose?
LOL
The workers who still show up for work are now doing the job of 2 - 3 people.
The demand for labor is unbelievable.
We need some Mexicans in here fast because the lazy Americans will not work.
By the way, 12:29 . . .
POTUS has absolutely nothing to do with the economy.
Never has, and never will.
The international banking families are firmly in control of the production (retraction) of fiat currency.
It's all that unemployment being pumped in. Just wait until it ends. It is important to save for a rainy day. But don't worry when we are all homeless, we can stay in a hotel paid for by your local government. It just gets better in better. I hope they put me in one with free breakfast.
It is all that lazy a$$ $600 a week freebie they are getting.
Socialism money.
That $600 extra dollars over regular unemployment can buy you lots of stuff.
When you done need to pay your rent it leaves alot of the extra money for goodies. Not a good thing to get people used too. People who can't pay their bills or who never learned how to save money never will. They are bankrupting middle class now. Landlords, bars, restaurants owners, small business, removing cash, etc. I don't get how people don't see what is going on. We are literally a social experiment.
Post a Comment