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Retail sales in December approach numbers seen during a recession.


CNBC's Steve Liesman joins 'The Exchange' to discuss the holiday season's retail numbers, slowing consumption growth in the first half of the year and Fed officials' determination to proceed with rate increases. For access to live and exclusive video from CNBC subscribe to CNBC PRO:  » Subscribe to CNBC TV:  » Subscribe to CNBC:  Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news:  Follow CNBC on LinkedIn:  Follow CNBC News on Facebook:  Follow CNBC News on Twitter:  Follow CNBC News on Instagram:  #CNBC #CNBCTV...(read more)


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The holiday season is often a time for retailers to shine as customers flock to their stores and websites to buy gifts for loved ones. However, December 2020 saw retail sales come closer to recession numbers than ever before. According to the United States Census Bureau, retail sales for December 2020 only increased by 0.3%, which is the smallest increase in sales since April of 2020. This increase is also significantly lower than the 3.7% increase seen in December 2019. One of the main reasons for this downturn in retail sales is, of course, the COVID-19 pandemic. Many consumers are struggling financially due to job losses and reduced income, which means they are less likely to spend money on non-essential items. Additionally, the pandemic has forced many retailers to close their physical stores or limit in-person shopping, which has led to a decrease in foot traffic and sales. However, the pandemic is not the only factor contributing to this downturn in retail sales. Economic uncertainty and political turmoil have also played a role. The U.S. economy has been in a state of flux for much of the past year, with many experts predicting a recession. Additionally, the recent political turmoil surrounding the presidential election and the storming of the Capitol has left many consumers feeling uncertain about the future. Despite these challenges, some retailers did manage to have a successful holiday season. E-commerce giants like Amazon and Walmart saw record sales, as many consumers turned to online shopping in light of the pandemic. Additionally, retailers that sell essential items, like grocery stores and pharmacies, saw an increase in sales as consumers stocked up on necessities. Looking forward, it’s unclear when retail sales will return to pre-pandemic levels. Some experts believe that the rollout of the COVID-19 vaccine and the eventual return to normalcy will lead to a rebound in sales. However, others are more skeptical, pointing to the long-term effects of the pandemic on consumer habits and the economy. Overall, December 2020 saw retail sales come closer to recession numbers than ever before. While some retailers were able to weather the storm, others struggled to survive. As the pandemic continues to impact our daily lives and the economy, only time will tell what the future holds for the retail industry. https://inflationprotection.org/retail-sales-in-december-approach-numbers-seen-during-a-recession/?feed_id=89930&_unique_id=64422a642303d #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet #RecessionNews #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet
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