Black Friday may have been back in fashion this year, but the strong turnout at the start of the holiday shopping season last month wasn’t enough to counter a broader consumer pullback in spending. US retail sales fell sharply at the start of the holiday shopping season, dropping by 0.6% during the month of November, according to data released Thursday by the Commerce Department.
However, there are signs that could be shifting as the Federal Reserve’s unprecedented streak of seven consecutive interest rate hikes to tackle inflation are slowing areas of the economy. “It’s resilient to a point,” Matt Kramer, KPMG’s consumer and retail national sector leader, told CNN. “The constant drumbeat of a challenging economy, macroeconomic conditions, and things that keep coming at [consumers], does have an effect over time.
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We need people to buy things break them and throw them in a hole! The country depends on it!
I’ve got an idea Joe, let’s take the billions of dollars your trying to send to Ukraine and the millions of migrants you’ve allowed into our country, illegally since taking office and build a wall across our southern border! Let’s all remember. All of this occurred on your watch!
BIDEN'S ECONOMY.
No money!
The Red Wave media
Hope folks continue to stop spending they hard earn on these goofy Holliday's unwanted burdens! This economy is trash ! No break in sight! High prices on everything then the fake so called sale is nothing more but the original price pre inflation how the hell is that a sale
We as a nation spent almost 10 billion on Black Friday an all time high. Little sensational with that title
Thanks Biden
0.6 % is sharp Get the fuck outta here
Sorry to the Nation and retailers. This unfortunately is because of my wife and I. We can’t afford presents this year.
BIDENOMICS hard at work.
Gee I wonder why. FJB
Ouch ... 'CNN managed only 586,000 average viewers to lose 27% of last year’s viewership.'
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