Weak U.S. retail sales heighten fears over economy

Homepage | Forums | Topics In Depth | Economics | Weak U.S. retail sales heighten fears over economy

  • Author
    Posts
  • #187750

    Ohio Barbarian
    Moderator
    • Total Posts: 7,045
    @ohiobarbarian

    WASHINGTON (Reuters) – U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month.

    The signs of a deceleration in consumer spending reported by the Commerce Department on Wednesday came on the heels of reports this month showing a moderation in job growth and services sector activity in September.

    The economy is being hamstrung by a 15-month trade war between the United States and China, which has soured business sentiment, leading to a decline in capital expenditure and a recession in manufacturing.

    “Weaker retail numbers provide further evidence that weakness in the manufacturing sector is spilling over into other areas of the economy,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.

    Full story here. 

    Recession is coming. 

    We know now that Government by organized money is just as dangerous as Government by organized mob.--Franklin Delano Roosevelt

    With Bernie Sanders, we have the receipts. --Nina Turner

You must be logged in to reply to this topic.