WASHINGTON - U.S. retail sales rose modestly in January after a December drop that was even larger than originally estimated, but the recovery was not seen strong enough to alter the course of a U.S. economy that was losing momentum in early 2019.
Retail sales rose 0.2 percent as increased purchases of building materials and more discretionary spending offset the biggest decline in motor vehicle sales in five years. Data for December was revised to show sales tumbling 1.6 percent instead of decreasing 1.2 percent as previously reported. They were previously reported to have decreased 1.7 percent in December. Consumer spending accounts for more than two-thirds of U.S. economic activity.
Goldman Sachs lowered its first-quarter growth estimate by four-tenths of a percentage point to a 0.5 percent rate.
Slowing economy? Lol obama couldn’t maintain 2 percent GDP
The economy is not 'slowing,' Reuters; that's more of the phony influence you try to exert into American politics. The only thing that 'slows' the economy is done by those whom control monetary policy -- do you know what entity that is? The Federal Reserve. EndTheFed
Thanks again Trump
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia central bank on hold as economy slows to a crawlAustralia's central bank stuck to its upbeat view of the economy after it h... KARACHI: Pakistan Navy on Tuesday detected an Indian submarine and successfully foiled its attempts to intrude into Pakistani waters, a statement by a spokesperson said. KARACHI: Pakistan Navy on Tuesday detected an Indian submarine and successfully foiled its attempts to intrude into Pakistani waters, a statement by a spokesperson said.
Source: Reuters - 🏆 2. / 97 Read more »
China lowers growth target and cuts taxes as economy slowsChina lowered its goal for economic growth and announced a major tax cut, as policymakers seek to pull off a gradual deceleration while grappling with a debt legacy and the trade standoff with the U.S. wow what a communist thing to do
Source: latimes - 🏆 11. / 82 Read more »
China to slash taxes, boost lending to prop up slowing economyChina sought to shore up its slowing economy through billions of dollars in plan... Wish I can lend money from China 🇨🇳too Amen, lord of Israel will be with you anytime What !that will never work, what you have to do is..make everyone so poor they can only pay bills,cut all services, and for gods sake don't let the public know whats happened to all thier taxes...thats the tory way.
Source: Reuters - 🏆 2. / 97 Read more »
China to slash taxes, boost lending to shore up slowing economyChina will cut billions of dollars in taxes and fees, increase infrastructure in... Notice how they are not talking about a trade deal? I want somebody to look at me the way Xi does 😍😍😍
Source: Reuters - 🏆 2. / 97 Read more »
ECB, Fed React to a Slowing Global EconomyThe European Central Bank made a U-turn with new plans to stimulate the eurozone’s faltering economy, while Federal Reserve officials signaled increasing reluctance to raise U.S. interest rates at all, as evidence mounts of a slowing global economy.
Source: WSJ - 🏆 98. / 63 Read more »
China says it needs 'stronger' responses to support its slowing economyChinese Premier Li Keqiang said government budget deficit in 2019 is expected to widen to 2.76 trillion yuan, or around 2.8 percent of gross domestic product, partly due to greater fiscal support to the economy. You worry me, China.
Source: CNBC - 🏆 12. / 72 Read more »