The first signs of contraction surfaced in August, ending a 35-month run of expansion. September saw the lowest index reading since June 2009 as exports took a dive on fallout from the trade war. Manufacturing was once considered a big winner under the Trump administration, with improvements in employment and activity over the past few years.
Shoppers over the long Thanksgiving weekend, including Black Friday, opted to buy more online, which hurt mall traffic. For the entire holiday season, Adobe is anticipating shoppers will spend a $143.7 billion online. Meanwhile, the National Retail FederationU.S. holiday retail sales over the two months in 2019 will increase by 3.8% to 4.2% from a year ago, for a total of $727.9 billion to $730.7 billion. That compares with an average annual increase of 3.7% over the past five years.
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