Page 4 - aruba-today-20220115
P. 4

A4   U.S. NEWS
                 Saturday 15 January 2022
            December retail sales fall 1.9% after early holiday rush




            By ANNE D'INNOCENZIO                                                                                                sales surged 8.5% from Nov.
            AP Retail Writer                                                                                                    1  through  Dec.  24  from  a
            NEW  YORK  (AP)  —  Ameri-                                                                                          year  earlier.  That  was  the
            cans, beset by lack of prod-                                                                                        fastest pace in 17 years.
            uct  choices,  rising  prices                                                                                       "Consumer  spending  will
            and the arrival of omicron,                                                                                         remain  the  cornerstone  of
            sharply  cut  their  spending                                                                                       economic growth this year,
            in  December  after  a  burst                                                                                       but the near-term path will
            of  early  buying  in  the  fall                                                                                    be  choppy  amid  surging
            boosted  this  year's  holiday                                                                                      Omicron cases," said Lydia
            shopping season.                                                                                                    Boussour,  lead  U.S.  Econo-
            Retail sales fell a seasonally                                                                                      mist  at  Oxford  Economics.
            adjusted 1.9% in December                                                                                           Boussour  believes  that  af-
            from November when sales                                                                                            ter  a  soft  patch  in  the  first
            increased  0.3%,  the  U.S.                                                                                         quarter,  spending  should
            Commerce       Department                                                                                           rebound  in  the  spring  due
            said Friday. Sales rose 1.8%                                                                                        to strong wage growth and
            in  October  as  shoppers,                                                                                          savings.
            worried   about    product                                                                                          Stephen    Stanley,   chief
            shortages, got a head start                                                                                         economist at Amherst Pier-
            on their holiday buying. Still,                                                                                     point,  agreed,  pointing  to
            retail  sales  surged  16.9%                                                                                        a strong labor market and
            last month compared with                                                                                            massive  pent-up  demand
            December 2020, the Com-                                                                            Associated Press  and "a mountainous pile of
            merce  Department  said  covers only about a third of  we  living  through  that  has  have  not  pulled  back  on  extra cash to spend."
            Friday. For all of 2021, sales  overall consumer spending  skewed  a  number  of  eco-  spending. They are spend-   "People  will  spend  again
            spiked  19.3%  compared  and doesn't include money  nomic  indicators.  Many  ing  their  money  different-         once  the  Omicron  wave
            with the previous year.      spent  on  things  like  hair-  economists  believe  that  ly,  but  they  are  spending  fades," Stanley predicted.
            Spending  declines  were  cuts,  hotel  stays  or  plane  the  seasonal  adjustment  more, not less.                The omicron variant has led
            spread  across  numerous  tickets,  all  which  tend  to  of  retail  sales  has  been  The  National  Retail  Fed-  to widespread worker short-
            sectors.  Department  store  see  business  tail  off  when  thrown off by the pandem-  eration  is  crunching  last  ages with so people calling
            sales  fell  7%,  restaurant  anxiety  about  COVID-19  ic,  which  has  scrambled  month's  sales  figures  and  out sick, including the retail
            sales slipped 0.8% and on-   tick  higher.  In  November,  American  spending  pat-    will release its report Friday  sector,  and  supply  short-
            line  sales  fell  8.7%  com-  restaurant  sales  posted  a  terns. Seasonal adjustment  for  November  and  De-    ages  have  curtailed  what
            pared  with  the  previous  1% gain — the sector's best  is  intended  to  account  for  cember.  The  nation's  larg-  makes  it  to  store  shelves.
            month,  according  to  the  performance since July.       the  normal  spike  in  shop-  est  retail  trade  group  has  Stores and restaurants have
            report.                      Industry  analysts  suspect  ping  in  December  for  the  projected   record-busting  slashed  operating  hours  or
            Omicron  was  identified  by  that  shoppers  who  waited  holiday  season.  This  year,  growth  of  anywhere  be-  remained  closed  on  days
            the World Health Organiza-   until  the  last  minute  and  however, because of well-  tween  8.5%  and  10.5%,  they  had  previously  been
            tion in late November, and  didn't find what they want-   known  shortages,  Ameri-    compared  with  the  same  open. This week, Lululemon
            the December report from  ed and took a pass or they  cans  started  to  shop  for  two months last year.           warned that fourth-quarter
            the  Commerce  Depart-       bought  gift  cards,  would  the  holidays  early  and  the  Mastercard SpendingPulse,  sales  and  profits  will  likely
            ment is the first to capture  would not show up in retail  seasonal adjustment could  which  tracks  all  kinds  of  come in at the low end of
            some  of  its  effect  on  con-  data  until  those  cards  are  have exaggerated any De-  payments  including  cash  its expectations as it grap-
            sumer behavior.              redeemed.                    cember retreat.              and  debit  cards,  reported  ples  with  the  variant's  fall-
            The  monthly  retail  report  There is also the unique era  And  Americans  this  year  late last month that holiday  out. q


                                                                      Yellow ribbons removed from town

                                                                      green amid speech dispute




                                                                      quietly Thursday by a local  new enforcement of the or-   Caron said. “There’s a lot of
                                                                      official  enforcing  an  ordi-  dinance.  Seventeen  peo-  people that are very upset.
                                                                      nance  banning  placards  ple in the audience spoke  ... This is not over.”
                                                                      and  other  postings  on  the  in  opposition  to  removing  Carr  removed  the  ribbons
                                                                      green,  which  dates  to  the  the ribbons at the Decem-  late   Thursday   morning,
                                                                      early  1700s.  The  concern?  ber  meeting,  and  none  stuffing  them  into  a  back-
                                                                      Allowing the ribbons opens  spoke  in  favor,  according  pack  as  she  walked  her
                                                                      the  door  to  any  displays  to borough records.         dog  on  a  nearly  deserted
                                                     Associated Press
                                                                      of  free  speech,  no  matter  Val Caron, a retired electri-  town green.
            By  DAVE  COLLINS  Associ-   Yellow     ribbons     had  how  hateful  or  offensive  it  cian whose son is in the Air  “When it comes to a public
            ated Press                   adorned  trees  on  the  his-  might be.                  Force,  had  been  tending  space like that, if you allow
            LITCHFIELD, Conn. (AP) — A  toric Litchfield Town Green  Controversy  over  the  rib-  the ribbons with his wife for  some speech you have to
            symbol  of  support  for  U.S.  since  the  start  of  the  U.S.  bons  has  flared  occasion-  more  than  a  decade.  He  allow all speech,” Carr said
            troops  has  become  the  war in Iraq in 2003, placed  ally  over  the  years  and  said he is considering legal  in  a  phone  interview.  “But
            centerpiece  of  a  conten-  there  by  families  with  rela-  recently  remerged  in  the  action  to  put  the  ribbons  under the (borough) code
            tious  free-speech  debate  tives serving overseas in the  Borough  of  Litchfield.  In  back up.                   we  are  allowed  to  say  no
            in this small town in the hills  military.                December, acting Warden  “What  they  did  is  they  speech,  and  that  doesn’t
            of  northwestern  Connecti-  But  the  five  remaining  rib-  Gayle Carr and the board  slapped  everybody  in  the  discriminate      against
            cut.                         bons  were  taken  down  of  burgesses  voted  to  re-    military  right  in  the  face,”  anybody.”q
   1   2   3   4   5   6   7   8   9