Broken hearts and empty carts: COVID kills retail

Shoppers aren't buying, but there's bright spots to be found

Apr 17, 2020 | Current events | Business
Article headline image

The prices might be great, but the selection...

There's a new way to check on our checks

As reports of people receiving direct deposits from Uncle Sam roll in, taxpayers can now check on the status of their own stimulus checks through Get My Payment, a new website launched by the IRS.

And the airlines are getting their bailout

10 of 12 major airlines have agreed to accept payroll support from the US Treasury department to help cover employee wages and plane maintenance (even grounded planes need a full crew rotating their tires every week) during the pandemic's vast decrease in flights.

But US retail sales are all broken hearts and empty carts

Total retail sales, which cover everything from restaurant appetizers to stay-at-home sweatpants, declined by 8.7% this month, the steepest drop 30+ years of record-keeping.

Despite it all, one country's economy is booming

While the world economy may be crashing, the South American nation of Guyana is projected to grow an astonishing 53% as they tap offshore fields to become a new major oil producer.



Bank. Save. Invest.