up, but it s not going up an amount that s commensurate with how much prices are rising. they need to get that in balance. maybe that happens next year. we ll have to see. what are you looking at going forward entering the month of december. the black friday $9 billion on monday, $11.4 billion just if one day mostly online purchase ps what are you looking at now as we enter december in this really important month of the year. the retail sales numbers were interesting. on a dollar amount, it set records. you re seeing a.m. sonson saying they brok records. that s not surprising because everything is more expensive. so the amount of dollars that were spent is going to be a little bit higher because yo might be buying the same things. they just got more expense i have. the question is what people did this weekend. spending all that money is going to crowd out what mite they might have left in their budget. are people going to have to pair back more because they spent to put gifts under
been down year over year every single month going back to last april. it s a wonder when i see the retail sales numbers that americans have been able to keep pace. they re spending more money. getting fewer goods. i mean, how long can they keep this up? actually, charles, i think this is more interesting than this. you ve got this three titanic forces. you have inventories that are bloating among the retailers, you have inflation. here s the thing. all of that savings that was accumulated in the covid years is gone. so if why this is so special is if you go as you said, wages have not kept up with inflation but they have risen. if you go out to buy bread tomorrow, you re buying it at today s prices with today s wages. when you go christmas shopping, that s going out of your savings. so you re buying things from last year s savings. so it s really going to sting. watching how consumers behave during this period is really
mark szandy is with analytics. target is spooked. the market coomer is hanging tough, not strag gant, just enough to keep the economy moves forward. they re shifting their spending, going from buying goods, things you would buy in a target, and doing a lot of that, obviously during the pandemic when we were stuck at home. but now we re out and about, so we re spending on services. back in the retail sales numbers, you saw a big increase in restaurant sales, ball games, different things, so target is suffering as a result of that, but you take it altogether, it feels like the american consumer is doing their part. less on things, more on experiences. i m seeing some analysis that the solid report on retail sales
leaving a still-confusing picture about whether the u.s. economy can avoid a recession, what do we know? well, retail sales were flat from august to september as inflation took a toll on the american consumer. sales on everything from food to autoparts saw little or no change in september. the retail sales numbers are not adjusted for inflation so americans spent the same dollars for fewer goods. inflation is still a daily burden on american households. consumer households rose from august to september and 8.2% when compared to last year and core cpi excluding volatile food and energy prices, that was the highest since 1982, a fresh 40-year inflation high for that core rate. the fed s crusade to crush that inflation has driven mortgage rates to the highest since george w. bush was in office. the average 30-year fixed rate morgan is 6.82%. for context, a mortgage taken out today would cost an extra
this is bbc news with the latest business headlines for viewers in the uk and around the world. with inflation topping 10% here in the uk, independent retailers put out a call for help. how bad is the situation? we ll know in a few hours when the latest retail sales numbers are published. renters are being priced out of the market by rapidly rising rates. so, are any solutions to be found? and is work from home on fridays killing the after work drinks? the trade body for bars and nightclubs thinks it may threaten over 250,000 jobs.