Well that is what is being sold to us.
WSJ:“Ports are clear, shipping rates have plunged, retailers enjoy ample inventory and delivery companies have spare capacity.”
Couldn’t the above be because we are entering a recession and the rise of Covid in China is cutting their exports?
I know Tesla has idled their Shanghai plant as Covid hits their workers & their parts supply workers*. Personally I’ve noticed my grocery bills have risen about 30%. While tht does not affect my lifestyle a significant portion of the American populace lives paycheck to paycheck. Increased grocery bills will cut their disposable income. Are these putting their X-mas spending on a credit that will delay reduced spending as they pay double digit credit card interest or are they cutting back on spending now?
Yes inflation dropped in November. So did retail sales. Related?
My reading of the tea leaves differs from others. Am I right? Heck I don’t know.
Just Like I don’t know if we are at the bottom for the stock market. Outflows from mutual funds hit a peak recently. So the retail investor has bailed. My crystal ball is fuzzy on that prediction too. We could be in for a further stock market down draft if retailer’s X-mas sales tank this year.
[(Tesla suspends production at Shanghai plant - internal notice)
The suspension comes among a rising wave of infections after China eased its zero-COVID policy earlier this month, an abrupt move welcomed by businesses and the public but heavily disrupting business operations in the short term.
One of the people said workers at Tesla and its suppliers have also been falling sick as part of this wave, posing challenges to operations in the past week.
https://www.wsj.com/articles/chinas-exports-drop-in-november-11575859913