April Retail Plunge

U.S. retail sales and factory output registered the steepest declines on record in April, illustrating a decline so deep that will likely be felt for years.

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With the Coronavirus pandemic keeping most Americans stuck at home and unemployment the highest since the Great Depression era, people sharply reduced their spending in the month.

A sharp drop off in consumer spending is one of the main drivers behind estimates for GDP so forward estimates are looking grim.

With states starting to loosen some business curbs, spending will likely pick up in the coming months, though it could remain below pre virus levels for some time. This could be a great opportunity to look for strong retail stocks that have had a sharp decline during the pandemic.

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