HdL HeadLines calls out retail trends affecting the economy and HdL news to provide you with insight and support in your budget preparation and economic planning.
- U.S. Business Investment Falls for the First Time in a Year. A Slowing Economy?
- Retail Sales Come Up Short in February
- U.S. Consumers Spend Record $1Trillion Online in 2022
- Amazon's Share of US eCommerce Sales Hits All-Time High of 56.7% in 2021
- When Will Car Prices Come Back to Earth?
- HdL Announcements
U.S. Business Investment Falls for the First Time in a Year. A Slowing Economy?
Orders at U.S. factories for long-lasting goods sank 2.2% in February and business investment fell for the first time in a year, suggesting high inflation and ongoing supply shortages were restraining an otherwise strong economic recovery. Orders for U.S durable goods — products meant to last at least three years — shrank for the first time in five months, the government said Thursday.
Retail Sales Come Up Short in February
Consumers continued to spend in February though at a slower pace than expected, according to a Commerce Department report. Advance retail sales grew 0.3% for the month, slightly below the 0.4% Dow Jones estimate. Stripping out autos, sales were up 0.2%, well below expectations for a 0.9% increase and indicative that after a rapid pace to start the year, consumers were slowing down.
U.S. Consumers Spend Record $1Trillion Online in 2022
U.S. consumer spending on e-commerce is expected to hit a record $1 trillion this year thanks to the pandemic-driven shift to online shopping, a report from Adobe Analytics showed on Tuesday. The forecast represents a jump of 13% from 2021 and follows a total spend of $1.7 trillion over the course of two years of the COVID-19 crisis, starting March 2020.
Amazon's Share of US eCommerce Sales Hits All-Time High of 56.7% in 2021
Nearly 60% of all online retail purchases in the U.S. were done on Amazon last year, new PYMNTS data show, reflecting the company’s tightening grip on eCommerce sales and a continuation of the stair step market share advance it has made over the past twenty years. In fact, the new findings defy the logic that says it gets harder to grow a large business, having doubled its share of the domestic retail piece to 56.7% in 2021 from 28.1% in 2014.
When Will Car Prices Come Back to Earth?
Buyers paid 12.2 percent more for new vehicles in January 2022 than in January 2021, and the picture was even worse for used vehicles, which were up more than 40 percent year over year. The shortage of new vehicles was driven by the COVID-19 pandemic, which interrupted production of the silicon chips that run the multitude of onboard processors. Unfortunately, carmakers are still months away from being able to get as many chips as they need to return to full production. If you want a car, think ahead to 2024, a date when analysts think things will be leveling off somewhat.
Click below for our latest client communications:
- Legislative Update March 2022
- HdL Companies and Envisio Partner to Assist Agencies with ARPA Reporting
- Infrastructure in Industrial America - Modernizing Local Tax Codes to Raise Needed Revenue to Cover Costly Infrastructure Repairs for Your Community
HdL will be at the following upcoming events:
- ICA Winter Seminar - April 1-3, 2022
- CAL SACA Conference - April 12-14, 2022
- CSAC Legislative Conference - April 20-23, 2022
- CCCA Annual Municipal Seminar - May 12-15, 2022
Subscribe to receive HdL legislative and regulatory updates, economic forecasts, industry headlines and more.