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Us Retail Sales Hit By Food And Petrol Rises

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Sales climbed 0.5pc in the month, the weakest gain since July, although that came on the back of a 0.9pc increase in March, the Commerce Department said on Thursday. US consumer spending accounts for about 70pc of the world's largest economy, and, after it slowed sharply in the first quarter of the year, analysts are watching anxiously to see if spending will regain momentum in the second half of the year.

"We believe more stable prices will be needed to keep unit demand, production and employment on track," said Steven Weiting, an economist at Citigroup. "As such, the more recent oil prices correction is quite timely."

Despite the 14pc drop in oil prices over the past two weeks, gasoline prices still remain at relatively lofty levels. The average price per gallon reached $3.99 (£2.44) on May 4, according to the AAA, a US motoring organisation, and averaged $3.81 in April compared with $3.54 in March. The hope is that gasoline prices start easing before the peak summer driving season begins next month.

Wow fuel and petrol up in price sales elsewhere in the economy drop. Bernankes cunning plan could be fatally flawed, still I'm sure printing more paper money will solve the problem especially if you give it to Wall Street to speculate on commodities.

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I heard Jay Leno has a steam powered car in his automobile collection , The Stanley Steamer.

He can run it on soon to be worthless $1 bills.

Is the solution to the oil problem steam powered cars powered by worthless US paper currency??

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it's funny how they QEed to give us a recovery and we all we got was a commodity price spike.some of these rocket scientists have no f***** common sense.

Do remember that the commodity price spike in the UK was a result of Mr King's QE, not Bernanke. Dollars can be printed ad infinitum and it ought not to affect the price of crude oil in Sterling.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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