Word: retail
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...type situation could happen now - though there are few signs of hope on the horizon for solutions to alleviate the effects of the market crash. In September, employment continued to fall in construction, manufacturing and retail trade, according to the Bureau of Labor Statistics, which put the nation's unemployment rate at 6.1%. Shutoffs of electricity and gas are rising as families struggle to pay bills with the onset of winter weather across much of the country. And tent cities are beginning to pop up in places like Reno, Nev., and Seattle for the first time in decades...
...Anyone who doubts that the U.S. is heading for recession is living in denial. On an annualized basis, real retail sales and industrial production are both declining. Unemployment is already at its highest level in five years. The question is whether we're headed for a short, relatively mild recession like that of 2001 - or a latter-day version of what the world went through in the 1930s: Depression...
...economic growth is getting knocked away: domestic demand. Asians may have a lot more money than they used to, but even so, they tend to be savers, not spenders, and quickly return to stuffing cash under the mattress during times of economic stress. In South Korea, wholesale and retail sales growth slipped to 3.8% in August from 5.5% in July. Even in go-go China, passenger-car sales fell 6% in August, the first decline in more than two years...
...debts will crash the Indian financial system and economy. That's because commerce on the subcontinent still runs mostly on cash. Dheeraj Dikshit, the head of consumer assets in India for U.K.-based bank HSBC, reckons that credit cards are used for only about 2% of all retail transactions. But cash-strapped consumers will still hurt economic growth. Many spend half their salary on car and house payments and will be forced to cut discretionary spending. Some sectors are already getting hurt. New car sales - 80% of which are financed - are slowing. Tata Motors reported a 3% decline in sales...
...supermarket and the general urge to go green, and it's gained fans especially among young, urban foodies, who are keen to eat organic, locally grown or homemade foods. Jarden Home Brands, which makes the familiar Ball brand of jars for home preserving, says it has seen retail sales rise 28% over last year...