U.S. retail sales fell by the most in more than a year in February and the coronavirus outbreak is expected to depress sales in the months ahead, as Americans hunker down in their homes
WASHINGTON - U.S. retail sales fell by the most in more than a year in February and the coronavirus pandemic is expected to depress sales in the months ahead, which could strengthen economists’ expectations of a consumer-led recession by the second quarter.
The coronavirus outbreak has forced millions of Americans to hunker down in their homes instead of commuting to work or school. State and local governments have escalated “social distancing” policies, closing schools, bars, restaurants and theaters in an attempt to contain the spread of the virus. Compared to February last year, retail sales increased 4.3%. Excluding automobiles, gasoline, building materials and food services retail sales were unchanged last month after increasing by an upwardly revised 0.4% in January. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously reported to have been unchanged in January.
The sector, which accounts for about 11% of the economy, is also being hamstrung by problems at Boeing related to its grounded 737 MAX plane and an oil price war between Russia and Saudi Arabia, which has weighed on crude prices and hurt American producers. “The outlook for all of 2020 has darkened substantially, however, as it is increasingly likely that a short and sharp recession will occur in the middle of the year,” said Ben Ayers, senior economist at Nationwide in Columbus, Ohio.
Receipts at clothing stores fell 1.2% last month. Online and mail-order retail sales rose 0.7%. That followed a 0.2% gain in January. Receipts at furniture stores slipped 0.4%.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Latest on the spread of coronavirus around the worldCoronavirus fears led to a historic drop in U.S. stocks, shut borders and disrup...
続きを読む »
Factbox: Latest on the spread of coronavirus around the worldCoronavirus fears led to a historic drop in U.S. stocks, shut borders and disrup...
続きを読む »
Coronavirus causes historic market drop, global scramble to contain 'invisible enemy'Coronavirus fears led to a historic drop in U.S. stocks, shut borders and disrupted daily life around the world, as governments took drastic measures to try to reduce the severity of the outbreak For the latest updates:
続きを読む »
Nike, Apple close US stores as retail chains weigh coronavirus optionsThe coronavirus outbreak has begun to affect big retail stores in the country, as two major companies announced this weekend they will close all of their U.S. storefronts for the rest of the month. Nike announced Saturday it will shut down all of its stores in the U.S., Canada, Western Europe, Australia
続きを読む »
Hyundai, Ford offer new-car buyers delayed payments amid coronavirus pandemicHyundai and Ford are beginning to roll out incentive programs designed to reassure customers that they can buy a new car without having to worry about losing their ability to pay for it during the coronavirus pandemic.
続きを読む »
Stocks Open Sharply Lower After Fed Slashes RatesU.S. stocks dropped sharply Monday morning, signaling markets continue to struggle with the concern that emergency measures won’t ward off a recession caused by the coronavirus outbreak.
続きを読む »