NFIB Weekly News
This Year’s Black Friday The Largest Ever For Sales(12/03/2019)
Bloomberg (11/29, Roeder) reported that Black Friday was “the moment retailers have been preparing for all year,” and “it could be one for the record books – at least, if you’re selling online.” Bloomberg added, “The biggest players are going into the holiday period with momentum, early data indicate. Walmart and Amazon.com Inc. saw the biggest jumps in online consumer spending in the run-up to Thanksgiving compared with a year earlier, according to a report from Edison Trends.” Amazon’s online sales rose 37 percent, while “Walmart saw a 53% in increase in web spending...and Nordstrom Inc. climbed 35%, according to the study.” While Best Buy, Target, and Macy’s also saw increased sales, “Kohl’s, EBay Inc. and J.C. Penney Co. all registered negative numbers from a year earlier.” Meanwhile, “Amazon, Walmart and Best Buy were the most mentioned retailers, according to Salesforce data.”
Media Analyses: Amid Trade Tensions, Economy Picked Up Steam In Third Quarter(12/03/2019)
Under the headline, “US Economy Picks Up In Third-Quarter; Data Surprise On The Upside,” Reuters (11/27, Mutikani) reported that “US economic growth picked up slightly in the third quarter, rather than slowing as initially reported, and there are signs the downturn in business investment may be drawing to a close.” Reuters added, “the modest firming in growth reported on Wednesday by the government came alongside data showing the number of Americans filing claims for unemployment benefits dropped last week after standing at a five-month high for two straight weeks.” Reuters added, “Collectively those reports and others are painting a more upbeat picture of an American economy...that has had to overcome speed bumps from President Donald Trump’s trade war with China and the ebbing tailwinds from last year’s Republican tax cuts.”
Small Business Saturday, Museum Store Sunday Continue Efforts To Encourage Shopping Small(12/03/2019)
USA Today (11/29, Tyko) reported, “Nov. 30 [was] the 10th annual Small Business Saturday, which falls between Black Friday and Cyber Monday and serves as the kickoff to the holiday season for independent retailers and restaurateurs.” Additionally, in its third year, “Sunday [was] Museum Store Sunday when museums and other cultural institutions offer shoppers unique options.”
WSJournal: Middle Class Would Have To Pay More To Fund Democrats’ Plans(12/03/2019)
The Wall Street Journal (11/28, Subscription Publication), in an editorial, argued that in order to pay for the initiatives they are campaigning on, Democratic presidential candidates, if elected, would need to raise taxes on the middle class, not just the wealthiest Americans. As evidence, the Journal points to tax rates in Europe, including in Germany where a family earning $124,000 must pay 42% in income taxes, rather than the 22% that an American household with the same income pays. The Journal noted that in Sweden, incomes as low as $47,000 are taxed at a 55% rate.
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