Simon, the largest U.S. mall operator, closed over 200 shopping centers. In March 2020, the National Retail Federation predicted that the industry would lose $430 billion in revenues in the third quarter of 2020. U.S. consumers boosted spending at stores and auto dealerships in June for the second straight month as states reopened for business, but the recent increase in coronavirus cases could again damp job growth and retail spending.The Commerce Department on Thursday said June retail sales—a measure of purchases at stores, at restaurants and online—increased a seasonally adjusted 7.5% on the month. Economists see no respite for consumer spending in the second quarter, with estimates as low as a 41% rate of decline, despite a historic $2.3 trillion fiscal package, which made provisions for cash payments to some families and boosted unemployment benefit checks. Retail sales rose 17.7 percent in May, following a record decline of 14.7 percent in April.
H.K. Retail Sales Outlook . According to eMarketer’s latest forecast on US retail sales (which includes auto and fuel), total retail sales will drop by 10.5% this year, steeper than the 8.2% drop in 2009. But they were also lifted by stimulus money — totaling $1,200 per recipient, plus $500 per child — that will run out in the coming months, with no indications that Congress intends to pass another round of assistance.A jump in spending on motor vehicles and at restaurants and bars accounted for just over half of the overall gain in sales. Michael Cheng, APAC, … Retail sales gains in May may fade once government stimulus money runs out, experts say Published: June 17, 2020 at 8:49 a.m. Data is a real-time snapshot *Data is delayed at least 15 minutes. Kohl’s said last month that its reopened stores were about 50 percent to 60 percent as productive as they would typically be. Some categories, like clothing, were down as much as 63 percent from a year earlier.
It's going to be a pretty deep bottom from which to come up.
China Lilang's retail sales decline on a YoY basis narrowed from 40%-45% in 1Q 2020 to 15%-20% in 2Q 2020, sparking hopes of a further recovery in 2H2020. America's retail sales collapsed at a historic rate last month, underscoring just how badly retailers are struggling during the coronavirus crisis. ET Total
At least 630,000 non-essential retail outlets closed during the pandemic.
Some states began allowing outdoor dining during the month after the establishments were limited to curbside pickup and delivery.While the monthly gains set records, the economy is still making up for lost ground.Total sales were off 6.1% from a year ago as economists still expect the biggest annualized GDP in the second quarter that the U.S. has ever seen.Got a confidential news tip? Retail Sales to Drop About 20% for 2020: PwC’s Cheng. But many of those gains soon evaporated, as investors processed the economy’s murky longer-term outlook. "Economists believe the economy entered recession in March. "We will see the bottom when the coronavirus infection rates stabilize. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Retail sales surge 17.7% for May in the biggest monthly jump ever
The most recent international estimate of retail sales available for May 2020 was published by the US Census Bureau on 16 June 2020. Instead, it looks for a drop in activity, spread across the economy and lasting more than a few months.Got a confidential news tip? U.S. May retail sales surge 17.7% in the biggest monthly jump ever Published Tue, Jun 16 2020 8:32 AM EDT Updated Tue, Jun 16 2020 3:53 PM EDT Jeff Cox @jeff.cox.7528 @JeffCoxCNBCcom
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