Coronavirus Live Updates: Retail Sales Show Steepest Drop on Record

Retail report shows biggest decline in sales in three decades of record-keeping.

Retail sales plunged in March as businesses shuttered from coast to coast and wary shoppers restricted their spending, a drop that was by far the largest in the nearly three decades the government has tracked the data.

Total sales, which include retail purchases in stores and online as well as auto and gasoline sales and money spent at bars and restaurants, fell 8.7 percent from the previous month, the Commerce Department said Wednesday.

The situation has almost certainly worsened since then. Most states didn’t shut down nonessential businesses until late March or early April.

What happens to retail matters to the broader economy. The sector accounts for more than one in 10 U.S. jobs; only health care employs more. Its stores generate billions of dollars in rent for commercial landlords, ad sales for local media outlets, and sales-tax receipts for state and local governments.

If retailers survive and can quickly reopen and rehire workers, then the eventual economic recovery could be relatively swift. But the failure of a large share of businesses would lead to prolonged unemployment and a much slower rebound.

But programs meant to support businesses, including government-backed loans and grants to keep businesses afloat, have gotten off to a rocky start.

“They need lifeboats, and the lifeboats aren’t getting out there fast enough,” said Diane Swonk, chief economist at Grant Thornton. “This is a time when speed matters more than bureaucracy.”

President Trump’s decision on Tuesday to halt funding for the World Health Organization in the midst of a pandemic fueled widespread criticism of the U.S. and threatened new divisions during a global battle that has already strained some international ties.

“Halting funding for the World Health Organization during a world health crisis is as dangerous as it sounds,” Bill Gates, the founder of Microsoft who has donated the vast bulk of his fortune to supporting initiatives to bolster public health, wrote on Twitter. “Their work is slowing the spread of COVID-19 and if that work is stopped no other organization can replace them. The world needs @WHO now more than ever.”

Mr. Trump’s attack on the W.H.O., which was founded after World War II as part of the United Nations “to promote and protect the health of all peoples,” was the latest example of the president’s attempt to shift the blame for the handling of the crisis.

“So much death has been caused by their mistakes,” the president told reporters during a White House briefing. He said the W.H.O. “willingly took China’s assurances to face value” and “pushed China’s misinformation.”

António Guterres, the secretary general of the United Nations, defended the W.H.O. and said it was “possible that the same facts have had different readings by different entities,” but he said that the middle of a pandemic was not the time to resolve those differences.

During his Rose Garden announcement on Tuesday, Mr. Trump was vague about whether everyone on the list had agreed to serve on the task force or were even aware they were on it. At least one person on the list, who asked not to be identified for fear of angering the White House, said that no request had been made to join the list, and that there had been no advance notice of an announcement.

Even if states are able to stretch their finances temporarily, the economic recovery is expected to be slow. That means tax revenues from tourism, oil and gas drilling, conventions and other activities are probably not going to bounce back.

“We can’t spend what we don’t have,” Gov. Andrew M. Cuomo told the New York Legislature this month.

Further complicating the matter, scientists agree that while six feet is a sensible and useful minimum distance for people to separate from one another when possible, some say that farther away would be better.

Sneezes, for instance, can launch droplets a lot farther than six feet, according to a recent study, as a Times 3-D simulation shows.

If the family is breaking down, we can help.

There’s only so much togetherness anyone needs, and after a month of living together, your family most likely has had its share of rocky moments. We have some advice for problems such as navigating your stuck-together relationship and handling cooped-up children.

Forced to shelter at home, the virus reveals essential tech.

In a crisis, our most important technology has boiled down to just a few basic items and services.

This short list can guide our priorities in tech consumption even after we come out of this uncertain period. It also means that we don’t have to spend so much money to maximize our happiness.

Reporting was contributed by Ben Casselman, Sapna Maheshwari, Sheri Fink, John Eligon, Sabrina Tavernise, Michael D. Shear, Anemona Hartocollis, Karen Barrow, Kenneth Chang, James Gorman, Maggie Haberman, Annie Karni, Aimee Ortiz, Marc Santora, Knvul Sheikh and Alan Rappeport.

source: nytimes.com