Biden says 'consumer spending has recovered' to pre-pandemic levels

The Hill ^ | 11/29/2021 | ALEX GANGITANO

[ChicagoConservative27]

President Biden on Monday met with 10 CEOs from major retailers and grocers to discuss the holiday shopping season, touting the success of last week's Black Friday sales.

“Consumer spending has recovered to where it was headed before the pandemic. Early estimates are that Black Friday sales were up nearly a third since last year and in-store sales were up by even more than that,” Biden said.

Eight CEOs sat at the table with Biden, including Best Buy's Corie Barry, Samsung's KS Choi and Kroger's Rodney McMullen, with others joining virtually. Brian Deese, director of the National Economic Council, and Cedric Richmond, Biden's senior adviser, also participated in the meeting.

[ThunderSleeps]

Agreed, there's a difference between discretionary spending on things (eg. pre-pandemic with full employment) vs spending roughly the same amount now, but merely on necessities.

Of course the power elites think that's just fine. Us little people don't deserve nice things. Just toil away and be thankful.

[aces]

Here ya go

https://rumble.com/vpl7jb-only-one-brain-cell-left.html

[Vendome]

Early estimates are that Black Friday sales were up nearly a third since last year and in-store sales were up by even more than that,” Biden said.

Over last years numbers - Yes.

But, they are 5% less than 2019.

Fact Check - Wrong...

[jagusafr]

“Consumer spending has recovered to where it was headed before the pandemic.”

What the heck does that even mean?

[Mouton]

Liar liar diaper on fire

Don’t be so hasty. It may have reverted to pre pandemic levels but not just before the pandemic, perhaps around 1932 levels.

[Whyfor]

So very true.

[TigersEye]

Biden also thinks that stuff running down his leg is from a pudding cup he put in his back pocket.

[blueplum]

“28% decline in Black Friday sales in 2021 vs 2019. “

I’ve read something similar, in an article that said retailers are now counting on CyberMonday (today) to make up the gap

today, WSJ is pessimistic:
https://www.wsj.com/articles/cyber-monday-sales-are-expected-to-stall-11638226511

[monkeyshine]

Yeah, almost everything except the covid death toll and Washington DC looks good compared to 2020.

[Bonemaker]

“Biden says ‘consumer spending has recovered’ to pre-pandemic levels”

Thanks to firearms and ammunition purchases.

[Bonemaker]

“...perhaps around 1932 levels...”

September 1929 levels.

[ReleaseTheHounds]

Joe is conflating “sales” with “inventory turnover”. All that merchandise going out the door thanks to thieves is just healthy turnover!!! November has been a record setting month!!!

[Old West Conservative]

Link to the source?

[monkeyshine]

https://www.cnbc.com/2021/11/27/black-friday-shopping-in-stores-drops-28percent-from-pre-pandemic-levels.html