US retail sales unexpectedly drop as Trump’s trade war hits the backbone of the economy
Thursday, October 17, 2019 | Tag Cloud Tags: China, Economy, News, oil, Trade, Trump, US Economy, War, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – A key measure of consumer spending unexpectedly dropped for the first time in seven months in September, raising concerns about one of the brightest spots in the US economy.
The Commerce Department said on Wednesday that retail sales fell by 0.3% last month, the first decline since February, compared with a 0.6% rise in August. Retail sales account for more than two-thirds of economic output.
Consumer activity, along with hiring, has propelled an economy that has been otherwise roiled by a trade dispute between the Trump administration and China. [ Source: Business Insider (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.