The world’s biggest retailer reported results today and offers some insight on the state of the global economy.
- Says Japanese consumer sentiment is weakening
- US same store sales ex-gas rose 1.7% in the quarter
- ‘The holiday season is predicted to be very competitive’
- ‘Current macroeconomic conditions continue to pressure our customers’
- Traffic down 7.6% in China
Generally pessimistic comments about consumers. I’m not sure what is behind the drop in Chinese sales but I suspect it’s some type of local skew. If not, the economy is in big trouble.
