Since those who took out student loans are now having to repay them, United States retail sales have plummeted. According to the Bank of America, who have been mysteriously all-knowing for months, this morning’s U.S. retail sales print will be better than expected.
However, Goldman Sachs warned last month that retail sales could stumble hard because “the largest effects of the hit from the resumption of student loan payments will come in October.”
Ahead of retail sales: BofA real-time debit and credit card data indicates a big beat to consensus, especially on headline pic.twitter.com/4iFSdIj4Cz
— zerohedge (@zerohedge) November 15, 2023
There could be a problem with inflation as well. Wages are not keeping up with the cost of living and people are struggling to make ends meet during these interesting economic times.
After last month’s big upside surprise, the consensus was for a 0.3% drop Month over Month (MoM) in retail sales but the actual print came in better than expected, declining just 0.1% MoM (the first decline in 7 months).
Source: Bloomberg
Both headline and core retail sales Year over Year (YoY) growth slowed in October.
Source: Bloomberg
Retail sales ‘control group’ (which excludes food services, automobile dealers, building materials, and gasoline stations) and is used for GDP calculations, rose 0.2% MoM in October, according to a report by ZeroHedge.
Furniture, Motor Vehicles, and Miscellaneous Stores saw the biggest MoM declines…
Miscellaneous Store Retailers continue to swing around violently.
As a reminder, last month’s big jump was ‘seasonally adjusted’ by the ruling class’s central bankers. Un-adjusted sales dropped over 5% MoM. In October, sales of NSA (non-seasonally adjusted) rose 2.3% MoM.
Source: Bloomberg
Not exactly the “great news” everyone was expecting but still a “beat”, writes ZeroHedge.
In a society driven by consumption and buying, it is important to note when things get a little off. With the Christmas season fast approaching, it’s definitely possible that retail sales will pick up dramatically, even if people are going to have to put gifts on their credit cards this year.
It Took 22 Years to Get to This Point
Most of us have heard of germ theory ad nauseam since the beginning of the COVID-19 scamdemic....
This article was originally published by Rhoda Wilson at The Exposé. The Pandermrix influenza...
Commenting Policy:
Some comments on this web site are automatically moderated through our Spam protection systems. Please be patient if your comment isn’t immediately available. We’re not trying to censor you, the system just wants to make sure you’re not a robot posting random spam.
This website thrives because of its community. While we support lively debates and understand that people get excited, frustrated or angry at times, we ask that the conversation remain civil. Racism, to include any religious affiliation, will not be tolerated on this site, including the disparagement of people in the comments section.
Comments