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Sales at stores, restaurants, and online retailers rose a modest 0.3 percent in November from October, plunging from October’s 1.8-percent jump.
Sales at electronic stores slipped 4.6 percent and were down 1.2 percent at general merchandise stores. Online sales were flat, according to the U.S. labor department.
Still, November’s number was 18.2 percent above that from a year earlier and almost tripled inflation’s pace of 6.8 percent over the same 12-month period.
TREND FORECAST: Inflation, now running at a 39-year high rate, contributed to the higher dollar volume of sales, as did the hoard of cash that many consumers stockpiled during 2020’s shutdown.
We forecast companies across the business spectrum – from raw materials to finished products – will continue to raise prices as inflation continues to rise. We also forecast a retail/restaurant/hospitality consumer spending slowdown as Omicron fears continue to be hyped by politicians and Presstitutes.