Initial 2017 sales growth estimates exceed $33 billion (almost 6%), for a total of $598 billion, according to analysis by Customer Growth Partners.
Consumer spending represents two-thirds of total GDP; and with initial Q4 sales growth estimates coming in much higher than anticipated – this puts even more fuel into fourth quarter GDP growth estimates that have been hovering near 4%.
The stunning retail growth increases have been noted in both on-line and brick-and-mortar stores which reflects a more broad increase, driven by consumer confidence, likely to exceed these initial estimates.
CBS – […] Total retail sales this holiday season added up to a record $598 billion dollars — up $33 billion from last year. “This is literally the best season since before the recession,” business owner Craig Johnson said.
Johnson’s company, Customer Growth Partners, analyzes all things retail. He credits low unemployment and a booming stock market for this humbug-free holiday season.
“The single biggest drive of retail sales is growth in real disposable income,” he said. “And when real income goes up, people have money in their pocket and they’re able to spend it.” (read more)
President Trump’s short-term formula for this result was quite simple. Drive down the middle-class cost-of-living via immediately lowered energy costs… which creates downward pressure on fuel, food and the price of high consumables. These household savings then generate increased disposable income. It was a clear strategy from day one, and all subsequent longer term policy, jobs and trade etc., only enhances and increases the speed of growth in subsequent years.
These Q4 results are initial estimates, and with a significant portion of holiday sales coming after the holiday -as gift card redemption adds to the total- there is a very strong likelihood the size of the fourth quarter gains will pull the total GDP growth for 2017 to the Trumpian goal of 3% for the year.
After the 2016 election almost every ‘economist’ dismissed the projection by President-elect Trump that his MAGAnomic Main Street policy would drive GDP to 3% in his first year in office. Those same economic ‘experts’ find themselves joining the ranks of polling experts in their failure.
However, as seen in the aftermath of the 2016 election – don’t expect any of those leading economic voices to admit the flaws in their views; instead they will likely double-down on their efforts to dismiss the success of the Main Street resurgence.
#MAGA simply works. It is not a complex issue. However, President Trump’s short-term, and soon to be long-term success, shows how Main Street economics was intentionally manipulated by multinational interests and their purchased political policy.
In addition, the MSM narrative engineers have been selling the ideological message of the global financial elites, and convincing the U.S. middle-class there was nothing that could ever be done. The “service-driven-economy” narrative was an intentional effort to consign the U.S. worker to perpetual malaise and status-quo: “You didn’t build that”, “share the wealth”, etc. Meanwhile, behind the talking points, U.S. wealth was exported.
The underbelly of decades-long economic manipulation is being exposed by Trump’s common sense Main Street economic policy and the undeniable results. The multinationals and the professional political class hate that exposure.
Ergo, they hate Trump.