U.S. I N ‘UNRECOVERY’ NOT RECOVERY, SAYS ANALYST
FROM Wal-Mart Stores to Macy’s and McDonald’s, chains that cater to middle- and lower-income Americans say they are feeling the pinch of uneven economic recovery.
A host of retailers have reported tepid sales lately, highlighting the stress consumers are feeling because of higher payroll taxes, expensive petrol and a slow job market four years after the U.S. econo- my started to rebound.
“Everyone wants to talk about recovery — it’s like the ‘unrecovery’,” an analyst said following Wal-Mart results.
Wal-Mart posted its results for U.S. sales at stores open at least a year. They unexpectedly fell 0,3% last quarter, a second decline in a row, prompting a lower sales forecast for the year. — Reuters.