We’re approaching the midway point of a year that started with so much forward momentum. But after the uneven retail sales results released the past few weeks, uneasiness is setting in as the housewares business speeds toward the second half.
In spite of higher tariffs on Chinese-made products coming in mid-June, traffic at the nation’s major retail ports is expected to stay strong as retailers look to stock up for the back-to-school and holiday shopping seasons.
Annual gains in homeowner spending on improvements are expected to moderate across more than half of the nation’s largest metropolitan areas in 2019, according to new projections released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Consumer confidence hit a six month high in May as high levels of employment kept shoppers in a positive mood, according to The Conference Board.
The shift of the Easter and Passover holidays from March to April this year gave retail sales for the year’s fourth month a boost, according to the National Retail Federation.
Several housewares and home goods categories are in the crosshairs of a potential next round of 25% tariffs that could be imposed by the Trump administration on an additional $300 billion in Chinese-made goods. This follows the 25% tariffs that were imposed on $200 billion worth of Chinese-made products that went into effect on Friday, May 10.
A new round of tariffs put in place on Friday, May 10, by the United States is raising concerns with retailers and trade groups as the retail planning process for the 2019 holiday season begins.
President Donald Trump has threatened to move forward with a 25% hike in tariffs on $200 billion of Chinese imports this Friday, May 10, ahead of a meeting between U.S. and Chinese trade officials that was scheduled for this week in Washington, D.C.
For April, The Conference Board has reported that its Consumer Confidence Index improved after decreasing in March.
Annual gains in home improvement and repair are projected to continue decelerating through early next year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Retail sales in March were up and the growth has buoyed optimism that consumers will continue spending in the months ahead.
U.S. retail sales growth through the early part of the year remained solid as February saw year-over-year gains, the National Retail Federation said.
Following a solid holiday season, retail sales in January were up 3.6% year-over-year, according to figures from the National Retail Federation.
White House plans to increase tariffs from 10% to 25% on $200 billion of products made in China have been delayed, President Donald Trump said, citing “substantial progress” in talks between the United States and China.
The National Retail Federation blamed lower than expected holiday sales gains on “clearly avoidable actions by the government.”
Despite issues including the U.S./China trade war, a volatile stock market and the effects of the government shutdown, the NRF is forecasting sales to increase between 3.8% and 4.4%.
January retail industry employment fell by 15,100 jobs unadjusted from a year earlier but increased 14,800 jobs seasonally adjusted from December, according to the National Retail Federation.
Annual growth in the national market for home improvement and repair is expected to slow by the end of the year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
According to a University of Michigan survey, consumer sentiment in the U.S. slipped during early January, with the decline primarily focused on prospects for the domestic economy.
Consumer confidence levels were down for a second consecutive month as concerns grew over a slowdown in economic growth during the first quarter of 2019, officials with The Conference Board said.