retail news in context, analysis with attitude

Bloomberg reports that “key data” about how consumers spent during the December 2018 holiday shopping season won’t be issued on time by the federal government.

The reason? The US Department of Commerce, like much of the federal government, isn’t open for business because of the partial shutdown caused by a standoff between President Trump and the US Congress over funding for a wall to run across the country’s southern border with Mexico.

Bloomberg writes that “failure to reopen soon also would delay personal income and spending data, due Jan. 31.

“Together, those reports constitute the most widely-watched measures of household consumption, which accounts for about 70 percent of the economy. The disruptions come at a challenging time: plunging regional gauges of U.S. manufacturing and business surveys indicate a slowdown in growth, and some big-name retailers have issued warnings about mixed holiday results.”
KC's View:
A lot of people and companies are getting twitchy about the state of the economy. This ain’t gonna help.