October sees 1.7% increase in US retail sales behind inflation and increased consumer liquidity
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November 29, 2021, 04:23:58 PM

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  October sees 1.7% increase in US retail sales behind inflation and increased consumer liquidity
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Author Topic: October sees 1.7% increase in US retail sales behind inflation and increased consumer liquidity  (Read 239 times)
The Roc Pile
slimey56
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« on: November 16, 2021, 12:18:33 PM »

https://www.marketwatch.com/story/coming-up-u-s-retail-sales-11637068497

Quote
Sales rose 4% last month at internet retailers, 3.8% at electronics and appliance stores and 2.2% at department stores to lead the way in October.

These increases show Americans still have plenty of appetite for most consumer goods even though they are paying higher prices.

Sales also climbed 1.8% at auto dealers, but partly because of record prices. Automakers can’t make enough cars to satisfy demand due to a global parts shortage. Auto sales account for about one-fifth of overall retail spending.

Gas prices also surged 3.9% last month because of higher oil prices.
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Hollywood
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« Reply #1 on: November 25, 2021, 02:00:54 PM »

Some people are buying items at inflated prices before the supply chain issues creep up in the lead up to the Holidays. Much of the rise resulted from the food, gas, and used automobiles sharply jumping. 

I don't like how some media outlets are spinning it as if people are consuming more products, and I suspect that the top 25% of Americans are spending most of the money.

The Consumer Sentiment index has fallen to it's lowest level of the past decade, and standard of living has dropped for many Americans.  https://www.marketwatch.com/story/coming-up-umich-consumer-sentiment-survey-11637765079

“Consumers expressed less optimism in the November 2021 survey than any other time in the past decade about prospects for their own finances as well as for the overall economy,” Richard Curtin, chief economist for the UMich survey said in the report. “The decline was due to a combination of rapidly escalating inflation combined with the absence of federal policies that would effectively redress the inflationary damage to household budgets.”

We're heading towards a recession.
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