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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.'
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk's Twitter bans accounts of CNN, NYT, WaPo journalists | CNN BusinessTwitter, owned by Elon Musk, on Thursday banned the accounts of multiple journalists covering the technology industry without explanation. Oh. So...... now you're interested in banned accounts. Your network is a joke. Well stop spreading misinformation Good, How's that feel CNN spews more BS than all the other left wing networks....
Source: CNN - 🏆 4. / 95 Read more »
Video: Elon Musk and his Twitter madness on CNN Nightcap | CNN BusinessPuck's William Cohan tells 'Nightcap's' Jon Sarlin why Elon Musk might want to run Twitter into the ground. Plus, journalist Jacob Silverman predicts what could cause a true crypto apocalypse following the arrest of Sam Bankman-Fried. And the Washington Post's Taylor Lorenz explains why American tech giants want to make TikTok the boogeyman. To get the day's business headlines sent directly to your inbox, sign up for the Nightcap newsletter. TaylorLorenz jonsarlin Well if Taylor Lorenz says it, then it must be important and true……… TaylorLorenz jonsarlin SahandNourMohammadZadeh has been on hunger strike for five days protesting the decision of the Islamic Republic to kill him. Sahand has been sentenced to death for setting a trash can on fire, and his precious life is in danger. Be his voice!!! StopExecutionInIran e TaylorLorenz jonsarlin She is right about every platform needing to be reined in as far as all of their data mining policies. However saying that it’s just speculation that TikTok is worse, is very wrong.
Source: CNN - 🏆 4. / 95 Read more »
Peloton to close North Bay retail showroom - San Francisco Business TimesPeloton's regional presence turns to the South Bay with the move.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Frugal retail clients prompt Accenture warning on weak consulting businessAccenture Plc warned that a pullback in spending from clients who were postponing business improvement projects, especially in retail, was hurting its consulting business and forecast quarterly sales that could miss market estimates. Consulting orgs, especially McKinsey are grifters anyway
Source: Reuters - 🏆 2. / 97 Read more »
Bank of America's retail president sees strength in Florida markets - Jacksonville Business JournalThe president of the bank’s retail operations says the bank's customers are generally 'financially stable.'
Source: JaxBizJournal - 🏆 599. / 51 Read more »