U.S. retail sales rise slightly, cast shadow on fourth-quarter economic growth
WASHINGTON - U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labor market, raising fears the economy was slowing a bit faster than anticipated in the fourth quarter.
“Just as the Fed was in the middle of a victory dance, convinced they have returned the economy to a position of strength after just three rate cuts, the consumer waves a red flag,” said Lindsey Piegza, chief economist at Stifel in Chicago. “Any signs the consumer is waning could have sizeable negative consequences for growth at year-end and into next year.”
Excluding automobiles, gasoline, building materials and food services, retail sales edged up 0.1% last month after rising by an unrevised 0.3% in October. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. Consumer spending accounts for more than two-thirds of the economy.
Economists did not expect a de-escalation in trade tensions between the United States and China to materially change the outlook for the economy in 2020, arguing that it would take a long time to reverse the damage caused by the 17-month trade war on sectors like manufacturing and agriculture.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
U.S. retail sales rise slightly, cast shadow on fourth-quarter economic growthU.S. retail sales increased less than expected in November as Americans cut back...
Consulte Mais informação »
U.S. retail sales rise less than expected in NovemberU.S. retail sales increased less than expected in November as Americans cut back...
Consulte Mais informação »
CEOs Are Concerned About The Future: This Could Explain What’s Happening In The Job MarketAccording to the Business Roundtable CEO Economic Index, the elite association of over 180 chief executive officers of America’s leading companies reported that they are concerned about the outlook of the economy and job market
Consulte Mais informação »
China says will prioritize economic stability in 2020, keep policy steadyChina will focus on economic stability in 2020, keeping policy steady, the Xinhu...
Consulte Mais informação »
Democrats frontrunners' favorability dropping, but they're still more popular than Trump, new poll showsIt's the latest poll to indicate lackluster support for Democrats heading into crucial primary elections.
Consulte Mais informação »