<p>It’s a tight labor market so maybe it’s not a big surprise that Wal-Mart doesn’t want to ramp up seasonal hiring this year but it also speaks volumes about how much business they expect to do at Christmas.</p><p>Demand is clearly slowing and large US retailers have an inventory-overhang issue that they’re trying to clean up. I don’t think anyone truly knows the strength of the US consumer right now but a year ago, companies were preparing for sales to be strong. Now they’re preparing for sales to be weak. That kind of behaviour can be self-fulfilling. </p>
This article was written by Adam Button at forexlive.com.