Retail Sales Slump In July, Ships Back Up At Port Of LA As International Shipping Collapse Unravels

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US Retail Sales fell 1.1% MoM in July - almost four times worse than the 0.3% slide expected.
motor vehicles, clothing, and non-store retailers (online) all saw sales decline and it shows the economy is far from in an expansion.
Vessel congestion outside the busiest US gateway for trade with Asia is clogged with the most inbound container vessels in nearly six months.
Bloomberg data shows the number of containerships queuing off the coast of Los Angeles has reached 37 on Sunday evening, that's three less than the all-time-high observed on Feb. 1.
Coming off the worst year on record for international travel, many had hoped that things could only get better in 2021 for the battered tourism industry. However, as Statista's Felix Richter notes, as it turns out, the situation went from bad to worse, however, at least when looking at international tourist arrivals in the first five months of the year.
Having dropped by more than one billion visitors or 73 percent in 2020, international tourist arrivals declined by 85 percent between January and May 2021 when compared to the same period of 2019. According to the UNWTO, tourism destinations around the world recorded 460 million fewer international arrivals in the first five months of 2021 compared to 2019.