FILE PHOTO: Shoppers wearing protective masks walk through the Historic Downtown Farmers Market during the outbreak of the coronavirus disease in Los Angeles, California, U.S., April 5, 2020. REUTERS/Kyle Grillot/File Photo
According to a Reuters survey of economists, retail sales probably plunged 8.0% last month, signalling the biggest decline since the government started tracking the series in 1992. Retail sales fell 0.5% in February. Steep declines are also expected at restaurants and bars, which stopped in-person service and moved to take-out and delivery service. Though some businesses, including restaurants, have shifted to online sales, economists say the volumes are insufficient to close the gap from social distancing measures.
Core retail sales correspond most closely with the consumer spending component of gross domestic product. With March’s anticipated decrease, economists are forecasting consumer spending plunging at an annualized rate of at least 5.0% in the first quarter, which would be the weakest performance since the second quarter of 1980.
Source: News Formal (newsformal.com)
In other news - water is wet.
581,000 cases reported from USA | 23,000 deaths Latest updates | cases per million population👇 CoronavirusPandemic fightagainstcorona
Then why is this a picture of a restaurant?
No shit, really?
I have to assume this is BREAKING NEWS! as surely totally unexpected.
That’s weird ...
Amazing investigative journalism,
and WORST, MUCH WORST, in the pipe!
Worst humanitarian crisis! Whole world is fighting as humans! One nation still riding on anti-human ideology!!
Damn, you guys dug deep for that one, huh?
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:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's exports slump seen extending to March as coronavirus ravages global economy: Reuters pollThe slump in China's exports is expected to have extended into March while a collapse in oil price likely deepened a decline in imports, a Reuters poll showed, as the coronavirus cripples the global economy and overall demand. Mask exports are probably up Yes it's credible! This economy downturn will take years to rectify undoubtedly! Chinese virus...
Source: Reuters - 🏆 2. / 97 Read more »
Spain lifts some coronavirus lockdown measures; Italy records lowest daily deaths since MarchConstruction and factory workers in Spain return to work on Monday as the government lifts some of the most stringent lockdown measures, but opposition parties caution against a relaxation of the rules. Spain is Spain. There is a reason not to follow what they do. Very very dangerous moves.... pandemic will return and haunt your society harder if you open prematurely.... hope virus 🦠 will not return and everyone will be safe..
Source: CNBC - 🏆 12. / 72 Read more »
L.A. County Coronavirus Update: 25 Deaths, Lowest Newly Diagnosed Case Count Since March 26Los Angeles County Supervisor and Board of Supervisors Chair Kathryn Barger urged residents to hold tight during the challenging times: “There is hope and peace waiting for us on the other side.”
Source: THR - 🏆 411. / 53 Read more »
Apple shipped 2.5 million iPhones in China in March following coronavirus slumpMobile phone shipments in China in March totaled 21 million units, according to data from a Chinese government think tank. the FED will not pullback this market until everyone is bullish again, then they tank it now if the FED didn't exist, this selling would have dropped the market to probably down 50% but they do, so that make it easy to buy equities Little slump for a big market like China... 🤔
Source: CNBC - 🏆 12. / 72 Read more »
China's March trade surplus with U.S. narrows to $15.32 billionChina's trade surplus with the United States stood at $15.32 billion in March, Reuters calculation based on Chinese customs data showed on Tuesday. Funny how the Hong Kong protests disappeared. Perhaps if the emperor was not mad ...? This should have been shown as a percentage. Otherwise how do we know this isn’t just a result of an overall economic slowdown in both countries?
Source: Reuters - 🏆 2. / 97 Read more »
China's March crude oil imports jump 12% on stockpiling: calculationChina's crude oil imports in March rose 11.7% from a year earlier, as refiners stocked up on lower-priced cargoes despite falling domestic fuel demand and cuts in refining rates caused by the COVID-19 disease outbreak. Buy 'em low, pile 'em high to last a while Meanwhile, exports of soulless and conflict laden electronics dipped by double digit percentage points Going for cheap.
Source: Reuters - 🏆 2. / 97 Read more »