Posted on 04/15/2020 7:51:37 AM PDT by Bruiser 10
U.S. retail sales suffered a record drop in March as mandatory business closures to control the spread of the novel coronavirus outbreak depressed demand for a range of goods, setting up consumer spending for its worst decline in decades.
The report from the Commerce Department on Wednesday came as millions of Americans have been thrown out of work, and strengthened economists' conviction that the economy is in deep recession. States and local governments have issued "stay-at-home" or "shelter-in-place" orders affecting more than 90% of Americans to curb the spread of COVID-19, the respiratory illness caused by the virus, and abruptly stopping the country.
(Excerpt) Read more at newsmax.com ...
Why does anyone post Newsweak here anymore?
I’m SHOCKED! SHOCKED, I say. Did unemployment go up too? /s
How is this “news”?
With the huge increase in paper goods, cold meds, dairy, meat to be sure kept the number below 20%. If they separated by type of retailer, i’m sure they’d see some eye opening percentages in clothing, auto et al.
Democrat recession in the works, keep things close and watch it turn into a Democrat depression. Trump needs to open the country NOW, executive order if necessary to break the siege of the Democrat governors and their unconstitutional civil rights violations.
I posted this in another thread, but it bears repeating. In less than 18 months President Trump had reversed Obama’s horrible economy. The American people will trust him to do it again.
Those of us that sell online are selling better than we do during Christmas.
Rather have regular retail open up just the same.
My wife is a NAPA autoparts area manager for most of So. California they are off 30 %
Shutting down the economy is stupid without knowing the FATALITIES AS A PERCENTAGE OF THE INFECTION RATE.
We need more ANTIBODY STUDIES ASAP!!!
A 1000 person German antibody study by the University of Bonn resulted in a death rate of those infected at 0.37% and a CV infection rate at 15%. The Diamond Princess had an infection rate of 17%.
CV appears to be MORE CONTAGIOUS and LESS LETHAL than we thought.
If this is correct, the US economy should be reopened NOW, all schools reopened, protect the elderly with preexisting conditions and stop this MEDIA DRIVEN PANIC & NONSENSE.
This is a lot different than the Obama economy. We never have shut off 60% of the economy before.
The real decline in economic activity is in areas that aren’t included in retail sales, like durable goods, automobiles, travel/hospitality, etc.
Duh. The local and state governments locked us out of retail businesses. What did they expect?
well, the Michigan governor won’t let anybody buy garden hose. What do they expect.
Hell I thought that retail would be down 30-40-50%.
Isn't a bar and/or restaurant retail?
8.7%???
What a crock
it has to be at least 20% for last month...
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