Consumers Slow Their Spending

Thu., Dec. 14, 2000

From Staff

Americans, feeling less confident in the economy, tightened their belts in November, driving down sales at the nation’s retailers for the first time in seven months.

With recent holiday sales lackluster, Grinches may outnumber Santas this year.

The Commerce Department reported Wednesday that retail sales fell by 0.4 percent last month, surprising analysts who expected sales to rise slightly. In October, sales were flat.

The report and what so far appears to be a not-so-very-festive holiday season for retailers provide the latest evidence that the economy, in its longest-ever streak of uninterrupted growth, is slowing.

“The Grinch is not just playing in the movie theaters, he’s playing the malls and the department stores everywhere,” said Ken Mayland, an economist with ClearView Economics.

On Wall Street, the drop in retail sales and profit warnings made investors skittish. The Dow Jones industrial average, which fell back from an early 120-point advance, finished the day up 26.17 points at 10,794.44.

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are tax deductible.

Meet Our Journalists

Jesse Tinsley

Meet Jesse Tinsley. As a certified drone pilot, this veteran Spokesman-Review photographer often can be seen capturing beautiful aerial photographs of our region. Sometimes though, the job requires getting down with the dogs.
Jim Meehan

Jim Meehan is no stranger to Zag Nation. As the lead writer covering the Gonzaga men’s basketball team, he tells the stories behind the game and gets fans a bit closer to their favorite players.
Molly Quinn

There is no artist in Spokane like Molly Quinn. Her whimsical style is instantly recognizable to readers of The Spokesman-Review. She has painted gorgeous illustrations that instantly elevate the journalism accompanying it. She brings to life the stories that defy photography. She makes our pages better.
Rob Curley

Spokesman-Review editor Rob Curley loves to talk with people and learn about their lives, whether it's a best-selling author or a stranger he meets downtown on his walk to lunch. It's that inquisitive nature combined with a playful sense of storytelling that helps make our newspaper different than most.

Consumers Slow Their Spending

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

Updated: Pope, urging AI regulation, warns some weapons now beyond human control

Updated: President Trump signs emergency declaration for Los Angeles tank emergency

Trump says there is no rush for Iran deal, U.S. blockade stays