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mahatmakanejeeves

(57,187 posts)
Fri Jan 14, 2022, 09:43 AM Jan 2022

U.S. Retail Sales Slide Sharply as Inflation Weighs on Consumers [View all]

Source: Bloomberg, via Yahoo! Finance

Bloomberg

U.S. Retail Sales Slide Sharply as Inflation Weighs on Consumers

Molly Smith
Fri, January 14, 2022, 8:32 AM · 1 min read

(Bloomberg) -- U.S. retail sales slumped in December by the most in 10 months, suggesting the fastest inflation in decades is taking a greater toll on consumers just as the nation confronts more coronavirus infections.

The value of overall purchases decreased 1.9%, after a revised 0.2% gain a month earlier, Commerce Department figures showed Friday. The figures aren’t adjusted for inflation, suggesting price-adjusted receipts were even weaker than the headline number. ... The median estimate in a Bloomberg survey called for a 0.1% drop in overall retail sales from the prior month.

The year-end slide in retail purchases sets up for a tepid handoff to the first quarter. Combined with the impact from the omicron variant, which is denting outlays for services such as travel and dining out, the figures help explain why economists project household spending to soften.

Furthermore, falling price-adjusted wages, dwindling savings and the end of the government’s pandemic-related financial programs suggest a more moderate pace of spending.

{snip}

Read more: https://finance.yahoo.com/news/u-retail-sales-slide-sharply-133208932.html



Placeholder article at The Wall Street Journal.:

https://www.wsj.com/articles/us-economy-december-2021-retail-sales-11642109934

ECONOMY * U.S. ECONOMY

Retail Sales Seen Leveling Off as Record Holiday Shopping Season Ended

Many U.S. consumers heeded warnings about shipping delays, pushing a large share of period’s usual gains to earlier in year

By Gabriel T. Rubin
https://twitter.com/Rubinations
Jan. 14, 2022 5:30 am ET

Sales at U.S. retail stores, online vendors and restaurants are expected to have leveled off in December, ending a record holiday shopping season that included a resurgent Covid-19 pandemic, historically high inflation and supply-chain snags.

Economists surveyed by The Wall Street Journal estimate that retail sales fell a seasonally adjusted 0.1% in December from the prior month. Such a reading would mark a subdued end to record retail sales that started with a 1.8% gain in October.

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So, if I read this correctly Sherman A1 Jan 2022 #1
This Deminpenn Jan 2022 #4
Not exactly FBaggins Jan 2022 #5
A record amount of money was spent in the holiday season, House of Roberts Jan 2022 #7
Agreed Sherman A1 Jan 2022 #8
What you read in article is capitalist nonsense. Another article will tell you, think there were Alexander Of Assyria Jan 2022 #9
Sales do not "always drop after the holidays" onenote Jan 2022 #15
U.S. Retail Sales Fell 1.9% in December mahatmakanejeeves Jan 2022 #2
The sky is falling! The sky is falling! Oh wait, normal post Xmas fluctuation range? Ok then... Alexander Of Assyria Jan 2022 #10
Like it or not durablend Jan 2022 #12
That's retailer crazy math. Real math is sane. Alexander Of Assyria Jan 2022 #13
People are buying tons of stuff because they have good jobs and saved up income IronLionZion Jan 2022 #3
My gawd . . .. Lovie777 Jan 2022 #6
Oh, forgot about the hyped up supply chain nonsense. What happened to that? All fixed I guess.. Alexander Of Assyria Jan 2022 #11
Probably Ships Still Stuck Off The San Diego Port... GB_RN Jan 2022 #14
Additional information from the Commerce Dept. Report onenote Jan 2022 #16
Thanks. That helps. NT mahatmakanejeeves Jan 2022 #19
From the source. Yes, they are seasonally adjusted. No, they aren't inflation adjusted progree Jan 2022 #17
It should cool inflation a bit. roamer65 Jan 2022 #18
Maybe hoarders ran out of room Marthe48 Jan 2022 #20
I know I am going to delay a new car until at least 2026. roamer65 Jan 2022 #21
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