Published Friday, September 17, 2021 at: 7:03 PM EDT
Retail sales for the 12 months through August rose 14.9%. According to the U.S. Census Bureau, retail sales totaled $618.7 billion in August, a seven-tenths of 1% jump from July. Back-to-school shopping explained the uptick from July.
Retail sales are an important component of consumer spending, which accounts for 70% of total U.S. economic growth. The report indicates that the recovery is intact, at a time when the Delta Variant is raising fears about the economy’s momentum.
The Standard & Poor’s 500 stock index closed this Friday at 4,432.99, losing -0.91% from Thursday and -0.57% from last week’s closing price. The index is up +65.83% from the March 23, 2020, Covid-induced bear market low.
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Bank Panic And Strong 1Q '23 Economic Growth
Four medium and small sized U.S. banks required Federal regulators to take over management of their operations and assets or shore up their depositor bases since March 7, casting new
With the risk of a banking crisis roiling investors, the latest developments included signs that the crisis would be contained, and the chance of a contagion and systemic threat to
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