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Walmart Is Plunging (And 5 Other New Reasons The Economy Should Frighten You)
Image source: CNN
Walmart’s management team dropped a financial bombshell this week that sent US stock prices tumbling, revealing that sales will remain flat at the world’s largest retailer and earnings could drop by 6 to 12 percent.
That led to it having its worst day on Wall Street in 15 years.
Even if you don’t shop at Walmart, you need to worry about the news because many economists regard the super retailer as a barometer for the nation’s economy. Some say if Walmart is doing badly, America is, too.
But the revelation by Walmart isn’t the only negative financial news lately. Consider:
1. Retail sales are flat elsewhere, too
Revenue at Costco Wholesale (the nation’s third largest retailer) grew by just .72 percent between May and August of 2015. Revenue at Kroger, the nation’s largest grocer and fourth-largest retailer, only grew by .9 percent during the third quarter of 2015.
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Retail spending, the main force that drives the American economy, is barely growing.
2. Manufacturing is declining
The US manufacturing index has declined for three months. By October the index had fallen to 50.2, and if it dips below 50 its means manufacturing is contracting, CNN Money reported.
Source: http://www.offthegridnews.com/current-events/walmart-is-plunging-and-5-other-new-reasons-the-economy-should-frighten-you/
