General World News

We just got a stark warning that the US economy is slowing as trade tensions persist

FILE PHOTO: A boy and his father walk through the toy section of Walmart on Black Friday, a day that kicks off the holiday shopping season, in King of Prussia, Pennsylvania, U.S., on November 29, 2019. REUTERS/Sarah Silbiger/File Photo

  • US retail sales grew less than expected in November, rising 0.2% compared to the 0.5% estimate from economists surveyed by Bloomberg.
  • The lagging sales data signals slower economic growth than hoped for in the fourth-quarter, as the US-China trade war also pulled the US manufacturing sector further into a recession last month.
  • November’s soft retail trend could also be a result of this year’s late Thanksgiving, JPMorgan Chase economist Daniel Silver said in a Thursday note. The timing “could have pushed some holiday shopping from November to December,” he wrote.
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Source:: BusinessInsider.Com