MAGAnomics – Commerce Dept: December Retail Sales Jumped +5.8% vs Last Year…

Excellent sales report from the Dept. of Commerce reflects a 5.8 percent increase year-over year for December 2019.  U.S. consumer sales drive two-thirds of GDP; the December result is another indicator the GDP growth in the fourth quarter will likely be much higher than expected.

(Via CNBC) […] The Commerce Department said on Thursday retail sales increased 0.3% last month. Data for November was revised up to show retail sales gaining 0.3% instead of rising 0.2% as previously reported. Economists polled by Reuters had forecast retail sales would gain 0.3% in December. Compared to December last year, retail sales accelerated 5.8%.

It is weird to see how CNBC takes the good news, cites the factual impact of retail sales on GDP, and then proclaims the economy is likely faltering.  What the heck?

[…] Though a report last week showed a slowdown in job growth in December and the increase in the annual wage gain retreating to below 3.0%, consumers will continue to shoulder the longest economic expansion on record, now in its 11th year, thanks to higher savings, rising house prices and a bullish stock market.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, grew at a 3.2% annualized rate in the third quarter.

Growth in consumer spending is expected to have slowed to around or below a 2.5% rate in the fourth quarter. The economy expanded at a 2.1% pace in the July-September period.

Growth estimates for the fourth quarter are as high as a 2.5% rate, in part because of a drop in imports, which compressed the trade deficit.  (link)

Retail sales account for more than two-thirds of GDP.  So, November sales were revised up; December sales were exceptionally strong with +5.8% year-over-year… and yet “consumer spending is expected to have slowed below 2.5% in the fourth quarter”?

Oh well, I guess the growing wealth of the U.S. middle class means we have to “shoulder the burden” of an astoundingly good U.S. economy…. or something.  Go figure.

Apparently CNBC views the American economy as too much winning….

 

This entry was posted in Donald Trump, Economy, Election 2020, media bias, President Trump, Trade Deal, Uncategorized, US Treasury, USA. Bookmark the permalink.

47 Responses to MAGAnomics – Commerce Dept: December Retail Sales Jumped +5.8% vs Last Year…

  1. Rip Tide says:

    My family is doing our part….spending like drunken sailors lately. But haven’t outspent our growth, so thank you PDJT and team!! MAGA and KAGA!

    Liked by 7 people

  2. In the Land of Poz says:

    Paul Krugman upping tranquilizer dosage. Must… hold… steady…

    Liked by 2 people

    • GB Bari says:

      I’m surprised Krugman isn’t yet broke or homeless.
      How the heck does he make any kind of living nowadays?
      Does anyone (with half a brain or more) on the planet buy his opinions any more?

      Liked by 1 person

  3. Kerry Gimbel says:

    This bad news to Democrats/commies because they hate capitalism. They want it destroyed. Everything the radical Dems do is toward that purpose. Destroying Capitalism. Even global warming is about that. So good economic reports are not going to please them. This why Obama insisted our jobs are not coming back. Because he and the other radicals didn’t want them to come back.

    Liked by 4 people

  4. barnabusduke says:

    Still not tired of Winning! 😉

    Liked by 2 people

  5. Kerry Gimbel says:

    How does Krugman even have a job anymore. He has already proved I know more than him on economics. And I don’t know anything.

    Liked by 8 people

  6. calbear84 says:

    Fake news extends to coverage of the economy as well as politics. All you have to do is search for S&P historical returns and you get “Obama better than Trump” etc.
    Despite the MSM malarkey, I think most Americans have seen the light when it comes to the reality of President Trump’s unprecedented plan to rebuild the US economy for the benefit of Main Street.

    Liked by 5 people

  7. A2 says:

    Steady as she grows⤴️

    Liked by 5 people

  8. The old saying used to be, You WIN some/LOSE some…..with Trump, it’s WIN some/WIN even More.

    Liked by 5 people

  9. WSB says:

    Baby ‘Rooster Head’ Gowdy? Amusing!

    Liked by 2 people

  10. railer says:

    “Growth estimates for the fourth quarter are as high as a 2.5% rate, in part because of a drop in imports, which compressed the trade deficit.”

    CNBC doesn’t even give credit for this, but fewer imports is due to MAGA.

    We need to eliminate our trade deficit, which many think will help us eliminate our federal budget deficit.

    Liked by 3 people

  11. JImmy says:

    Did anyone see this report on foxnews about Trump having best unemployment rate in first 35 months ? “The chart the Trump campaign should be ‘plastering absolutely everywhere’:
    https://www.foxnews.com/media/trump-campaign-unemployment-chart

    Liked by 3 people

  12. vikingmom says:

    Taking a look at the stock market I don’t think anyone but CNN and Adam Schiff are taking this Shampeacment seriously!

    Liked by 4 people

  13. It’s so nice to read articles that have nothing to do with the faux impeachment. That’s all that is being reported on everywhere with no mention of China deal/, USMCA, etc. Nice that SD is covering other stuff.

    I

    Liked by 1 person

  14. Monadnock says:

    You catch this little turd in the punch bowl?

    “ the longest economic expansion on record, now in its 11th year,”

    Or to put it another way…..

    “but, but, but, but, but, Obama !!!”

    Those insufferable jack wagons.

    Liked by 2 people

  15. StanH says:

    They better hurry and impeach that SOB before everybody has a job.

    Liked by 3 people

  16. California Joe says:

    CNBC the financial news network that brought us Dan Dorfman!

    Like

  17. Michael Hennessy says:

    And this is exactly why the authoritarian democrat party is trying to overthrow our President and nullify out votes.

    With prosperity comes freedom. Freedom is antithetical to a repressive ruling class!

    Liked by 3 people

  18. Mike in a Truck says:

    Good Jumpin Josephine- I hope that’s not a real kid. If it were mine I’d shove it in the turkey fryer and do it a favor. No way that kid can go through life lookin like that.

    Like

  19. Bucknutguy says:

    I know I did my part. Gifts stacked to the rafters for my loveable little liabilities.

    Like

  20. gunrunner03 says:

    CNBC is the biz side of MSNBC. Their negative spin of everything PresidentTrump is to be expected. When they start praising the President, then pause should be given. Fox Biz does a much better job on reporting the President’s successes.

    Like

  21. Baby El says:

    Just another indicator of how badly zerO’s policies stifled the economy and the standard of living of the American worker.

    Not that zerO was in any way unique, nor solely irresponsible, but the policies of his maladministration were particularly destructive.

    Liked by 1 person

  22. Scott Allan Cole says:

    Atlanta Fed GDP Now for the 4th Quarter indicates only 1.8% GDP. With the numbers we’ve seen, makes no damn sense.

    Like

  23. Blind no Longer says:

    This just shows you what confidence in President’s economic policies the general public have—A LOT!!! When Obama was in office I hardly spent any of my savings because I was afraid of what might be coming from the idiot!

    There is no fear now! People feel free to spend some of their hard earned money because they have confidence that the economy is stable and growing!!! Whether people like him or voted for him, they know his economic policies are spot on and helping everybody in general!

    Sucks to be a Leftist, idiot loser Democrat, without a “magic wand”. LMAO.

    Like

  24. bkrg2 says:

    Seems like prior month reporting has been “revised upward “ for past 3 years.

    Is that due to all the great work and strong tailwinds created by messiah Obama?

    #iamanidiotdemonrat

    Liked by 1 person

  25. This 2/3 GDP spending our money is a double edged sword. We need to pay for things in cash vs credit. My thought is that we need a reset in real estate prices to do this. Start with the DC metro area and CA.

    Like

  26. Perot Conservative says:

    Add in blockbuster home sales … what could our Q4 GDP be?

    Atlanta FedNow is estimating 1.8%, I just don’t get that.

    Home sales jump over 16% in December.
    Consumer spending up over 5.8%.
    Imports reduced 12%?
    Wages rising.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s