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Economy

“Retail sales post surprise gain as consumers show strength…”

“Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday. Sales increased 0.7% for the month against the Dow Jones estimate of a decline of 0.8%. A separate economic report showed that weekly jobless claims increased to 332,000 for the week ended Sept. 11, according to the Labor Department. The Dow Jones estimate was for 320,000…”

https://www.cnbc.com/2021/09/16/retail-sales-unexpectedly-rise-0point7percent-in-august-vs-expected-decline-of-0point8percent.html

It’s not a surprise. The bottle neck in the supply chain due to the labor shortage is raising prices.

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