US Retail Sales Worst Crash In History Following Record Collapse In March

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from Silver Report Uncut:

US Retail Sales Worst Crash In History Following Record Collapse In March, Consumers Habits Changed


US retail sales suffered the worst collapse in History in April the previous worst retail sales print was last month’s reading. 70% of US GDP is consumption meaning this could get ugly. To make matter worse some serious issues have arrived that bring into question the V-shaped recovery narrative, consumer habits have begun to change revealing they are still apprehensive to return to business as usual. There seems to be a lack of recovery in certain sectors so far since certain businesses have been permitted to open again signaling it may take longer than anticipated to see the economy running as usual or perhaps there is just a new normal that we will have to adjust to. Consumer confidence seemed to get a pep from the stimulus checks and according to the Umich consumer confidence survey they asked what is the most important subject for them. health, isolation, or their financial stability. An overwhelming majority of respondents said their main concern is for their health. These may be some of the reasons certain businesses have seen very apprehensive customers. Next month will be the proving ground when more comes into view concerning this economy.