Consumer Spending Warning Signs: Restaurants & Retail Hit the Skids \ stacker news ~econ

Consumer Spending Warning Signs: Restaurants & Retail Hit the Skids

964 sats \ 22 comments \ @TomK 26 Sep econ

A deep dive into U.S. consumer data is showing concerning trends. Retail sales (ex. auto and gas) have flatlined, while the NRA's Restaurant Performance Index has nosedived, dropping below pre-pandemic levels. Historically, both metrics have been critical in gauging economic health, but the current decline hints at deeper systemic issues.

Compounding the challenge is a softening labor market, with growing layoffs and stagnant hiring contributing to lower consumer confidence. As inflation compounds and wages fail to keep up, consumers are pulling back on both retail purchases and dining out, intensifying the slowdown.

If spending doesn't rebound soon, the combination of a weakening labor market and slowing retail could trigger a broader economic downturn.

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78 sats \ 0 replies \ @TheMorningStar 26 Sep

Sir, this means America is under recession definitely and the rest of the world should start taking precautions. But, other countries seem not very interested until the recession is declared which USA won't do before elections.

79 sats \ 12 replies \ @Coinsreporter 26 Sep

I see it as Americans getting more health conscious and trying to avoid pizzas and burgers. They also need to keep the obesity rates down.

31 sats \ 11 replies \ @Undisciplined 26 Sep

Sorry, but that's not it. Eating out is too expensive now for many families. Americans are still the same lazy lard-asses they've always been.

127 sats \ 10 replies \ @Coinsreporter 26 Sep

No, I was watching a video recently where someone was travelling in Utah. When she told the prices for staying and eating, I couldn't actually imagine these here gor te same things. $170 for 1 day stay, $30 for 1 meal. The same things we can get here in $10 to $15.

46 sats \ 8 replies \ @TomK OP 26 Sep

This is clearly an attack on the middle class. I can't interprete this debasement of m. in another way

112 sats \ 7 replies \ @Coinsreporter 26 Sep

Really, I was shocked. She was in a small town where only 2 or 3 hotels exist. 1 had no vacancy and the other one charged like nuts. I don't know much about hotel rents in America. $170 is okay or way too much in a town like Ogden and Moab.

CC: @Undisciplined @siggy47

54 sats \ 4 replies \ @TheMorningStar 26 Sep

I'm also shocked. I think most of the Indians will be shocked. In this amount a family of 4 people can easily eat good and healthy food for a month here. So many people don't even get as much salary. India is different. The costs of living are way too less than the West.

10 sats \ 3 replies \ @Undisciplined 26 Sep

When a small town taps into international tourist demand, prices can go nuts.

57 sats \ 2 replies \ @TheMorningStar 26 Sep

Sir, I understand that but @coinsreporter was right. There's a huge difference between India and US on this. For tourist destinations in India prices are higher on season but not as nuts as there. The charges in hotels with every facility, you won't pay more than 30 or 40 dollars in season. But it's okay, I've clms to know that the difference in wages is also huge.

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20 sats \ 1 reply \ @Undisciplined 26 Sep

Utah is a tourist destination, so I'm not surprised to see prices like that. I'm from a small town with only one hotel and it charges like $600 a night during tourist season, but in the offseason they can barely give the rooms away.

65 sats \ 0 replies \ @Coinsreporter 26 Sep

$600!!! Comparing to the prices for the same facilities and similar places here in India, it's like 50x to 100x. I'm more surprised for people afford such costly facilities there. That's fine, people are very rich there.

0 sats \ 0 replies \ @TomK OP 26 Sep

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57 sats \ 1 reply \ @halalmoney 26 Sep

Never before have so few (central bankers), ruined the lives of so many

0 sats \ 0 replies \ @TomK OP 26 Sep

These parasites are doing well if You see insider trading by Pelosi et al

94 sats \ 2 replies \ @Satosora 26 Sep

Everything is struggling. Because of the inflation? Or because we are used to this from the pandemic?

0 sats \ 0 replies \ @TomK OP 26 Sep

Debasement of money

0 sats \ 0 replies \ @TomK OP 26 Sep

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47 sats \ 0 replies \ @Atreus 26 Sep

Fast food restaurants can't compete at these prices. Think about some options:

A decked out Chipotle burrito with extra meat — $20
A restaurant meal — $20
A good Ribeye — $20

Sorry, Chipotle loses every time.

Oh well! Let's be honest, we all should've been eating more ground beef, eggs, and rice all along.

47 sats \ 0 replies \ @Slestak_Jack 26 Sep

I was just talking about this with a friend. We are making adjustments to our budget. When you have to go thru your expenses and cut streaming services, reduce eating out, look for ways to save etc, that is what is called a recession. If my friend and I are doing this, it means that many others are doing it too. When it's $60 for my wife and I to go out for burgers, we are going to adjust.

0 sats \ 0 replies \ @Golu 26 Sep

This is interesting for USA. The prices of evrything are soaring and the wages are just stable or going down. Trump and Harris both escaping these questions.