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Retail Sales Jump for Third Straight Month


BarryLaverty

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Retail sales jumped in October for the third straight month, as consumers in the United States kept spending despite fast-rising prices, shipping delays and labor shortages that threaten a critical part of the American economy.

Rising prices were partly responsible for the 1.7 percent gain in spending, which was bigger than economists had expected, but they weren’t the only factor. Even when adjusted for inflation, consumer spending is higher than it was before the start of the pandemic, government data shows.

Many American consumers seem to be riding out the rise in prices, thanks to rising wages and savings balances that grew during the pandemic — in part because of government stimulus programs that put cash directly in people’s bank accounts.

Monthly retail sales

Note: Advance monthly sales estimates for retail and food services, seasonally adjusted

Source: Commerce Department

The New York Times

The sizable jump in spending also likely reflected an early start to the holiday shopping season, analysts said, a shift driven by consumers’ concerns that supply chain shortages would mean that gifts would not arrive in time for the holidays.

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2 hours ago, BarryLaverty said:

Many American consumers seem to be riding out the rise in prices, thanks to rising wages and savings balances that grew during the pandemic — in part because of government stimulus programs that put cash directly in people’s bank accounts.

See above. 

14 minutes ago, Purpleforever said:

Inflation still on the rise

 

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4 hours ago, Purpleforever said:

Inflation still on the rise

Exactly so compared to last year these stores lost 4.5% in sales.  The current inflation rate is 6.2% last year under President Trump it was at 1.4%.  The highest that it ever was under Trump was 2.3%.  Current US Inflation Rates: 2000-2021 | US Inflation Calculator .  Let's go Brandon !  

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23 hours ago, BarryLaverty said:

What do you mean when you say that? 

Interpret it how you will.  Even Jimmy Carter and Richard Nixon had higher approval ratings than Biden.  America knows now how bad he is, but he's your golden boy and can do nothing wrong.  

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On 11/16/2021 at 5:59 PM, DaveTV1 said:

Exactly so compared to last year these stores lost 4.5% in sales.  The current inflation rate is 6.2% last year under President Trump it was at 1.4%.  The highest that it ever was under Trump was 2.3%.  Current US Inflation Rates: 2000-2021 | US Inflation Calculator .  Let's go Brandon !  

I'm not a economic expert but I think the pandemic may have something to do with that.

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2 hours ago, DaveTV1 said:

Interpret it how you will.  Even Jimmy Carter and Richard Nixon had higher approval ratings than Biden.  America knows now how bad he is, but he's your golden boy and can do nothing wrong.  

How about man up and not hypocritically speak in code? Show us how coarse you can be. 🙄

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4 hours ago, ctown81 said:

I'm not a economic expert but I think the pandemic may have something to do with that.

Could it be that your beloved leader and the leaders of blue states aren't allowing the ports of entry to unload ?  We saw the oil spill off the coast of California due to their policies and ineptness.  Have you contracted the Wuhan ?  I haven't.  

 

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2 hours ago, DaveTV1 said:

Could it be that your beloved leader and the leaders of blue states aren't allowing the ports of entry to unload ?  We saw the oil spill off the coast of California due to their policies and ineptness.  Have you contracted the Wuhan ?  I haven't.  

 

No I'm pretty sure the pandemic caused this. This isn't about red or blue. 

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