Retail sales tumbled last month

Marketplace All-in-One

Marketplace

Business, News

4.5 • 1.4K Ratings

🗓️ 15 February 2024

⏱️ 1 minutes

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Summary

First-time claims for unemployment benefits were lower than expected earlier this month; the Biden administration gives $970 million to 114 U.S. airports; Airbus reports that revenues were up 11% in 2023.

Transcript

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0:00.0	Retail sales take a tumble. I'm Nancy Marshall Genser with the Marketplace Minute.
0:05.2	The Commerce Department reported today that retail sales for January fell
0:09.3	8 tenth percent from December, a much bigger drop than economists expected.
0:14.4	Rough winter weather may have kept shoppers home.
0:17.0	A strong labor market has been fueling consumer spending.
0:20.1	The Labor Department said today that first-time claims for unemployment benefits came in lower than expected,
0:26.0	down 8,000 early this month. These claims are seen as a proxy for layoffs.
0:31.3	The Biden administration is giving almost a billion dollars in grants to
0:35.2	more than a hundred airports across the country. They'll use the money to refurbish
0:39.3	control towers, increase access for passengers with disabilities and expand terminals.
0:45.2	An Airbus reported today that revenues were up 11% in 2023.
0:50.6	Airbus plans to deliver around 800 commercial aircraft this year
0:55.0	says it's not seeing a bump in orders from airlines that want to switch from Boeing.
0:59.5	I'm Nancy Marshall Genser with the marketplace.

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