Sales edged slightly higher, by just $136,000, after stimulus checks and expanded unemployment benefits powered a spending surge in March.
The bounce nearly doubled the median estimate for a 5.8% gain and places sales at their highest level since data collection began in 1992.
The decline missed the median estimate for a 0.5% drop and marks the fourth decline for retail sales in five months.
US stocks sank on Friday as investors digested disappointing bank earnings and a December slump in retail sales. Retail sales shrank 0.7% in December as COVID-19 lockdowns cut into holiday-season spending, according to Census Bureau data published Friday. Economists expected sales to hold flat from November. Less-than-stellar earnings reports from […]
US stocks sank on Friday as investors digested President-elect Joe Biden’s stimulus plan and a December slump in retail sales. Biden rolled out a $US1.9 trillion relief proposal on Thursday that includes $US1,400 direct payments, state and local government aid, and expanded unemployment benefits. While Democrats’ soft Senate majority increases […]
US retail sales declined 0.7% in December, landing below the consensus economist forecast for unchanged spending. The reading marks a third straight month of contraction following November’s 1.4% drop and a mild decline in October. The data suggests strong online sales through the holiday season failed to offset COVID-19 lockdowns […]
US equities wavered on Wednesday as investors mulled the Federal Reserve’s policy update, disappointing economic data, and progress toward passing new stimulus. Congressional leaders are close to agreeing on a stimulus package that includes just under $US900 billion in relief funds, Politico reported. A deal could be finalised as early […]
US equities dipped slightly on Wednesday as investors weighed progress towards a stimulus compromise against disappointing economic data. Congressional leaders are close to agreeing on a stimulus package that includes just under $US900 billion in relief funds, according to Politico. The deal could be finalised as early as Wednesday morning. […]
US retail sales declined 1.1% in November, landing below the consensus economist estimate of a 0.3% contraction. The reading marks a slowdown from October’s 0.1% contraction, and signals holiday promotions failed to offset soaring COVID-19 cases and new economic restrictions. Spending at retailers has now shrunk for two straight months, […]
Several economic indicators updated in recent weeks suggest the ongoing US recovery is deteriorating as COVID-19 cases spike and new stimulus remains absent. Cities including Chicago, San Francisco, and New York City have intensified partial lockdowns to curb the virus’s spread. The restrictions threaten to further slow the nation’s bounce-back […]
US retail sales increased 0.3% in October, coming in below the consensus economist estimate of 0.5%. Spending at retailers also contracted from the month prior as lead-in to the holiday season squared off with soaring COVID-19 case counts. The reading still marks a sixth straight monthly improvement, although its still […]
US stocks jumped on Friday as investors cheered a better-than-expected reading of September retail sales. American retail spending climbed 1.9% last month, more than double economist estimates. The reading marked the gauge’s fifth straight increase and a sharp bounce from August’s 0.6% gain. The encouraging economic data offset dwindling odds […]
US stocks gained on Friday as investors cheered a better-than-expected reading of September retail sales. American retail spending climbed 1.9% last month, more than doubling economist estimates. The reading marks the gauge’s fifth straight increase and a sharp bounce from August’s 0.6% gain. The encouraging economic data offset dwindling odds […]
US retail sales in September improved from the prior month as the nation contended with still-heightened coronavirus infection rates and a lack of new stimulus. Spending increased 1.9% last month, landing above the average economist estimate of 0.8%. The reading marks the fifth straight month of improvement and a sizeable […]
Whole Foods had 21% fewer visitors across its stores on October 4 compared to the same day last year, according to data by placer.ai. Shopper traffic is bouncing back much faster at other grocers – it was only down 2% at Kroger’s. Part of this is because Whole Foods normally […]
US stocks closed mixed on Wednesday as sliding tech giants overshadowed the Federal Reserve’s pledge to keep monetary support intact for the foreseeable future. Central bank policymakers signalled near-zero interest rates would last through 2023 to buttress the US economic recovery. The tech sector dragged major indexes into intraday losses, […]
US stocks climbed on Wednesday as investors prepared for updated outlooks and policy commentary from the Federal Reserve. Fed Chair Jerome Powell is set to speak following the conclusion of the Federal Open Market Committee’s two-day meeting. The meeting is the first to take place since the central bank updated […]
Next Page »