Posted on 01/14/2022 9:20:56 AM PST by Red Badger
Retail sales in the U.S. declined sharply in December, indicating that the worst inflation in decades is hitting consumers harder than analysts expected.
Total retail sales dropped 1.9 percent in December, typically a month of robust holiday shopping, Commerce Department data showed Friday. The figures are not adjusted for inflation, suggesting that price-adjusted purchases were even weaker. The Consumer Price Index rose 0.5 percent in December.
The results were far worse than analysts expected. The median estimate by analysts was for sales to be flat to down just one-tenth of a percentage point.
Retail sales were better than expected in September and October, suggesting that concerns about inflation and shortages of goods may have pulled some shopping forward. Sales rose 0.8 percent in September and 1.7 percent in October. In an inflationary environment, making purchases early can help avoid higher prices later.
November was revised down from a 0.3 percent gain to 0.2 percent gain. The Consumer Price Index jumped 0.8 percent in November, following an increase of 0.9 percent in October. This suggests that inflation-adjusted sales actually declined on a month-over-month basis in November.
The worse than expected retail sales figures were foreshadowed by disappointing jobs numbers in November and December. Many businesses likely hired early in reaction to early shopping and concerns about supply chain and shipping delays hitting later. Employers added 531,000 employees to payrolls in October and there were a record 11 million job openings at the end of the month.
Excluding motor vehicles, which have been in short supply due to supply chain issues, and gasoline station sales, retail sales fell by 2.5 percent. Excluding restaurant sales, retail sales were down 2.1 percent.
(Excerpt) Read more at breitbart.com ...
Nothing to sell, nothing to earn. Kohl’s was awfully empty of inventory, the other day.
I was thinking last week that we never experienced any of the fabled shortages during Christmas. But then it hit me - it’s because we didn’t buy much. 🤣
My strategy in dealing with Biden and his Communist associates is to buy as little as possible...Just cut back on everything!
Butt, butt, butt babs straysand said this is the most bestest economy in 40 years.................
Same here...................
Maybe people are getting Christmas back in perspective by all this too.
Joe’s little crew will be demanding that he give the SOTU in June after this one.
Biden murdered the American economy. Republicans enabled he when they allowed the steal in 2020. A POX ON BOTH.
Biden murdered the American economy. Republicans enabled him when they allowed the steal in 2020. A POX ON BOTH.
Maybe the Biden family and the Dems were paid for this to happen by the CCP. The Chinese need the dollar to collapse and install their currency as the Worlds Reserve Currency. It may be the only way they can accomplish there goal of world domination. Consider all the US land they are purchasing and the Dems are doing nothing to stop them from purchasing prime farm land all over the USA. Spending billions.
It was the near total shut-down of cities (including NYC) and businesses just before Christmas that did it. In other words, not the virus but the government.
Logan’s Road House that is on Dr’s row on Germantown Rd in Memphis was always packed, now has a For Sale sign up, we stopped at Red Robbin’s 1 server, 1 cook, 1 greeter, nearly empty, after my fasting GI Medical test, everything was basically take out orders. Even the beer tasted funny as did the tap water. Food was ok. BB player walked in, and some U OF M staff not in dress clothes, athletics staff. We traveled 2 hrs round trip, 3 hr test.
Our grocery stores have to many empty shelves. I started stocking long term items after Pence’s betrayal. That included ammo upgrade.
Empty self for my favorite chocolate chip cookies. It’s been like this foe a month plus. But chicken drumsticks are the same price as two years ago, and on the shelves.
Awful that any of this even happening, anywhere in this country.
You sound like us....we began topping off our supplies at the same time as you.
Not just Christmas,the last two plus years of my life have been stolen by this Covid crapola and Biden’s administration.
Brandon is a train wreck.
That's the go to phrase of every bit of bad news for Leftist
governments. Why nobody say this coming. Even the experts
were fooled!
...the government is the virus...
That’s starting to sink in across the nation.
Unexpected!
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