U.S. “Real” Retail Sales are in Decline
Abstract:
The current malaise in retail sales is part of the general weakness that will hold down consumer spending in the first half of this year. In turn, consumer spending is the major sub-component (about 70%) of total U.S. Gross Domestic Product (GDP). As for the non-residential construction sector, the outlook for the total economy impacts on the confidence to proceed with investment plans. At the moment, that confidence factor is being put to the test.
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The current malaise in retail sales is part of the general weakness that will hold down consumer spending in the first half of this year. In turn, consumer spending is the major sub-component (about 70%) of total U.S. Gross Domestic Product (GDP). As for the non-residential construction sector, the outlook for the total economy impacts on the confidence to proceed with investment plans. At the moment, that confidence factor is being put to the test.