US April retail sales record worst drop Corona impact May 16 6:01
April retail sales in the US recorded the worst decline ever due to the new coronavirus. The record deterioration of consumption, which is a pillar of the American economy, is likely to have a serious impact in the future due to the large amount of unemployment.
Last month, the US Department of Commerce announced last month's retail sales decline of 16.4% compared to the previous month, the worst since 1992 when it began collecting statistics.
Out of this, clothing was minus 78% and home appliances and electronic equipment was minus 60%.
In addition, the industrial production index, which shows the production activity of companies, announced on the same day fell 11.2% from the previous month, which was also the largest drop since 1919 when statistics were remaining.
Along with production activities, sluggish consumption, which is a pillar of the US economy, is closely related to a large amount of unemployment.
Also, although this time's statistics were based on severe restrictions on going out, the American media said, "The long-term restrictions on going out consume only the minimum amount necessary even if economic activity resumes in the future. There is also a report that it may lead to trends, and consumption, which accounts for 70% of the US economy, will continue to be sluggish and will have a serious impact.