Christmas Tally: Retail Sales Plummet
Christmas Tally: Retail Sales Plummet
Retailers’ sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by […]
U.S. Retail Holiday Sales Plunge
U.S. Retail Holiday Sales Plunge
Despite massive price-cuts in an attempt to save the holiday shopping season, 2008 proved to have the worst holiday retail sales in decades amid decreasing consumer spending. As American consumers curb spending due to the recession, climbing unemployment, and tightening credit conditions, sales dropped by 2.5 percent in November and 4.0 […]
Britain’s Recession
Britain’s Recession
U.K. GDP sank 0.6% not annualized last quarter, five times faster than U.S. GDP. Such was the worst outcome in 71 quarters yet will look mild compared to what fourth-quarter and 1Q09 figures are likely to show. British personal consumption (-0.2%) was very resilient in comparison with its U.S. counterpart, but U.K. investment (-2.8%) […]