#consumer spending

US retail sales rose a solid 0.5 percent in July, which was modestly lower than analysts' expectations, according to the Commerce Department's Census Bureau. 

Billionaires only care about two things: $$ and 💪

If you want to make an impact, use spending boycotts and WHERE you shop, to make a difference.

I just attended a seminar on the economy (yes it was as boring as you can imagine), but one thing I learned was that CONSUMERS drive the majority of the economy.

"A fresh batch of stimulus checks sent consumer purchases surging in March..."

When people struggling to get by suddenly have money to spend, guess what, they spend it. Companies sell more goods and hire more workers. This grows the economy.

Consumer Spending 

 American consumers are the backbone of the US economy and are not easily fazed. Although consumers sharply cut back on spending at the start of the pandemic, they were quick to reopen their wallets in May and June once stimulus checks and unemployment benefits came to their aid. Retail spending on goods, particularly through online retailers, rebounded swiftly. (Meanwhile, spending on services like haircuts, travel and dining out at restaurants remains well below pre-Covid-19 norms.) Even with a quick recovery, though, consumer spending has grown less under Trump than under any of the prior five presidents.  

Some of the fears are now a reality because of Trump’s and McConnell’s Shutdown. Travel and Tourism 📉 Hotels 📉 Airlines 📉 Consumer Confidence 📉 TSA 📉 ... #LongestShutdownEVER

"In no way is the government shutdown a positive for hotel demand and travel",  Michael Bellisario, an analyst for investment bank R.W. Baird

Travel and Tourism

The travel and tourism industries generate about $1.6 trillion in U.S. economic activity — one-twelfth of the economy — and one in 20 jobs, according to the Commerce Department. Macroeconomic Advisers says it now expects the economy to expand at just a 1.4 percent annual rate in the first three months of this year, down from its previous forecast of 1.6 percent, because of reduced government spending during the shutdown.

Hotels suffering except Trump's of course!

In the Washington area, including its nearby suburbs in Maryland and Virginia, hotel revenue plunged 26 percent in the second week of January compared with the same period last year, according to STR, a travel research firm. That's much steeper than the 8 percent decline that occurred nationwide. 

Airlines

Delta said this week that the shutdown will cost it $25 million in January because fewer federal employees and contractors will be flying. By contrast, United Airlines, which has a substantial presence around Washington, D.C., said it hasn't felt much impact yet. 

TSA

But the airlines fear that if the shutdown doesn't end soon, more TSA agents will call in sick or quit

The TSA predicts it will screen over 8 million passengers between Friday and Monday, up 10.8 percent from last year's MLK weekend. And it will do so with fewer screeners. On Thursday, the TSA said 6.4 percent of screeners missed work — nearly double the 3.8 percent rate on the same day in 2018. 

Consumer Confidence

Consumers are, in fact, taking a dimmer view of the economy, in part because of the shutdown. A measure of consumer confidence fell this month by the most in more than six years, according to the University of Michigan, which conducts the survey.

If Americans were to cut back on travel and other discretionary spending, it would weaken consumer spending, the U.S. company's primary fuel.