Markets fall as retailers ring alarm over US economy

Markets fall as retailers ring alarm over US economy

May 18, 2022 by BBC News - Home

Key Facts

  • The update sent shares in Target plunging 25% - the biggest decline in more than three decades of trade.
  • The updates from Target and Walmart were closely watched for signs of how consumer spending is holding up in the world's largest economy, as inflation reaches 40-year highs.
  • Official government data recently showed retail sales rose a healthy 0.9% in April, but some analysts have warned the figures may be understating signs of slowdown - especially for lower-income families - since they are not adjusted for inflation.
  • Target said sales at stores open for at least a year were up more than 3% in the three months to May compared to 2021.

Click To Read Full Article

PERCENT
GEOGRAPHY
ORGANIZATION
MONEY
PERSON
MISCELLANEOUS

This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2021 Kwhen Inc.

Was this content valuable for you?