Retail Woes and the Trade War

Retail spending is down and this doesn't bode well for China.

Retail sales on select items have taken a YoY downturn. The percentage change in YoY overall is at 15%. Appliances have the best numbers at just under 0% change. Consumers are not spending money like they were in November 2017. We believe outward pressures, read: trade war, are leading consumers to put off retail purchases. IT what should come as no surprise, tobacco and liquor saw an increase. Vice sells in times of economic pressure.

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