Looking for a pick-up in the second half | Jerry Epperson

Is there a perfect word to describe the most recent June quarter’s furniture and mattress sales?
Disappointing?
Poor?
Stinks?

But it was a very complicated quarter for other reasons other than consumer apathy. The Consumer Product Safety Commission’s proposed new “tipability” standards,  originally effective May 24, made many domestic and imported bedroom manufacturers make and ship products before the deadline, often at deeply discounted prices.

Government statistics show clearly that Americans shifted from buying consumer durables in 2022 to favoring consumables, non-durables and smaller ticket items in 2023. Out traffic declined sharply, frustrating many of us.

Even the weather hasn’t been kind to us. Most of our nation has been suffering from so much heat!

Good old moderate-temperatured Richmond will post a heat index this weekend of 104, making a trip to Las Vegas a cool thing to do. Vacations, restaurants and sporting events are back in favor after the COVID disruptions.

History has shown that furniture sells more in the second half of the year than in the first half, mostly because housing sales occur in the warmer months . Makes sense, doesn’t it?

The second quarter GDP grew 2.1%, not great but not a recession either. Let’s hope for our typical second half pick-up.

See also:

• A window into an economy that hurts | Jerry Epperson
• Trying to make heads or tails of economic ‘inputs’ | Jerry Epperson