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<ul><li>India's largest carmaker saw a 1.1% fall in monthly car sales in July compared to an estimated 13% fall, according to the broking firm Nirmal Bang. </li><li><keyword id="401927" type="PERSON" weightage="20" keywordseo="July-exports">July exports</keyword> fell 27% to 6,757 units compared to the same period last year.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>Automobile major <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> on Saturday reported a marginal year-on-year decline of 1.1 per cent in total sales during July 2020. Accordingly, the company's total off-take declined to 108,064 units from 109,264 units sold during July 2019. The total sales include 100,000 units off-take in the <keyword id="6382118" type="UNKNOWN" weightage="20" keywordseo="domestic-market">domestic market</keyword> and 1,307 units to other OEM. As per a company statement, exports during the period under review fell to 6,757 units from 9,258 units being shipped out in July 2019. "Maruti Suzuki India Limited posted total sales of 108,064 units in July 2020. This is a growth of 88.2 per cent over June 2020 and a fall of 1.1 per cent over July 2019," "This includes domestic sales of 100,000 units and 1,307 units for other OEMs in the domestic market. In addition, the company exported 6,757 units in July 2020." SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-india-first-quarterly-results-and-share-price-chart/articleshow/77238578.cms" data-type="tilCustomLink" target="_blank">Maruti records its first quarterly loss in at least a decade - lockdown pain drags revenues lower by 79%</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-mahindra-and-mahindra-hero-moto-bajaj-auto-and-other-july-auto-sales-data-estimate/articleshow/77275348.cms" data-type="tilCustomLink" target="_blank">There may be little solace for Maruti, M&amp;M, Hero Moto, Bajaj Auto and others in the July auto sales data</a>

Maruti's July sales data sparks hope for other carmakers

<ul class="summary-list"><li><keyword id="6359938" type="UNKNOWN" weightage="60" keywordseo="target">Target</keyword> plans to give all its employees a bonus after a strong year for sales during the pandemic.</li><li>Hourly employees will receive $500, while salaried employees and store leadership will receive up to $2,000.</li><li>It's the fifth round of <keyword id="60744" type="ORGANIZATION" weightage="60" keywordseo="Bonuses">bonuses</keyword> Target's given out since the pandemic began nearly a year ago. </li></ul>Target employees will receive another round of bonuses starting at $500 after a strong year for the <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> giant despite the coronavirus pandemic. The bonuses will amount to $200 million, the company said in a Monday <a href="https://corporate.target.com/article/2021/01/team-gratitude">press release.</a> All hourly employees in stores, distribution centers and offices will receive $500. Store leadership and salaried employees will receive bonuses between $1,000 and $2,000, Target said. This is the fifth time Target has given out bonuses since April 2020. The first bonuses went to individual store team leads in April. In July, hourly workers received $200 bonuses and leadership and store directors received performance bonuses. In October, Target gave $200 bonuses to 350,000 of the store's frontline workers. Target also upped its minimum wage to $15 an hour in July 2020. Despite the pandemic, Target reported strong sales numbers throughout 2020, and the chain saw <a href="https://www.businessinsider.com/target-holiday-sales-online-digital-double-season-2021-1">major gains during the holiday season</a>. Online sales also jumped 102% in 2020 compared to 2019, while in-store sales rose 17%. Read more: <a href="https://www.businessinsider.com/target-pitches-advertisers-on-new-programmatic-ad-program-2020-12?r=aw-sub">Target is pushing harder into advertising with a new tool that shows if people buy a product after seeing an ad for it</a>The company's third-quarter <a href="https://corporate.target.com/press/releases/2020/11/Target-Corporation-Reports-Third-Quarter-Earnings">earnings report</a>, released in November 2020, showed that comparable sales were up by 20.7%. Shares of Target rose 52% in 2020, easily outpacing the broader stock market.

Target is giving all store workers another bonus of at least $500

Numbers do many things in our lives. We use numbers while transacting, choosing, ordering, shopping, tagging and across several other routine and special tasks in our lives. Using numbers judicially can change our fortune and bring us luck. Planets work through numbers and the right choice and deployment of numbers in our lives can help harvest the power of planets to bless our activities and efforts. <keyword id="1281653" type="PERSON" weightage="20" keywordseo="Lucky-number">Lucky number</keyword>s depend on our Zodiac sign based on date of birth, the astrological characteristics of the year, and planetary positions and orientations. After a thorough study of all these aspects, here are the <keyword id="6369280" type="DEFINITION" weightage="20" keywordseo="Lucky">lucky</keyword> number recommendations for 2020 for all zodiac signs. Lucky Number for Aries (Born between 21st March and 20th April) Your <keyword id="100396" type="ENTERTAINMENT" weightage="20" keywordseo="Lucky-numbers">lucky numbers</keyword> for the year 2020 based on your planetary positions are 5, 8, 16, 24, 37, 43, and 51. Lucky Number for Taurus (Born between 21st April and 21st May) The best number you can depend on in the year 2020 considering your planetary positions are 5, 8, 10, 11, 23, 34, and 45. Lucky Number for Gemini (Born between 22nd May and 21 June) Based on your planetary positions and orientations in 2020, the lucky numbers recommended for your zodiac sign are 6, 9, 11, 19, 25, 35, and 60. Lucky Number for Cancer (Born between 22nd June and 22nd July) Cancerians will find that the numbers 8, 10, 21, 28, 29, 47, and 48 can bring good fortune in 2020. Lucky Number for Leo (Born between 23rd July and 21 August) If you are a Leo, for the year 2020, your lucky numbers are 2, 3, 4, 17, 18, 37, and 44. Lucky Number for Virgo (Born between 22nd August and 23rd September) Virgo natives will find the numbers 4, 9, 16, 17, 22, 38, and 41 lucky for the year. Lucky Number for Libra (Born between 24th September and 23rd October) 6, 7, 26, 30, 35, 38, and 53 are the lucky numbers recommended for your zodiac sign for the year 2020 considering how the planets are oriented above you. Lucky Number for Scorpio (Born between 24th October and 22nd November) The special orientation of the planets above suggest that numbers like 4, 8, 10, 17, 19, 41, and 49 are going to bring you good luck and growth in 2020. Lucky Number for Sagittarius (Born between 23rd November and 22nd December) If you are waiting for good luck in the year 2020, you can depend on the numbers like 1, 5, 8, 22, 29, 33, and 44 considering the planetary positions above. Lucky Number for Capricorn (Born between 23rd December and 20th January) Astrology suggests that the numbers 7, 10, 18, 21, 24, 36, and 59 will be lucky ones for you during the year 2020 considering the planetary orientation. Lucky Number for Aquarius (Born between 21st January and 19th February) In the year 2020, Aquarians will find the numbers 6, 7, 13, 16, 27, 34, and 47 lucky taking into account the planetary alignment. Lucky Number for Pisces (Born between 20th February and 20th March) Looking at the planetary arrangements in 2020, astrologers suggest the numbers 3, 8, 17, 17, 33, 38, and 44 for turning your luck for the better. Business Insider does not endorse any such faith or the aforementioned views. These are independent views of Dr. Sathya Narayan, a contributing astrologer as well as a consultant psychologist.

These are your lucky numbers for the year 2020

<ul class="summary-list"><li>New home sales plunged to an annualized pace of 511,000 units in July, the Census Bureau said.</li><li>That landed below the median forecast of 575,000 units and marked the slowest rate since January 2016.</li></ul>Higher mortgage rates just took another bite out of the housing market.Sales of new single-family homes in the US tumbled to an annualized pace of 511,000 from 585,000 in July, the <a href="https://www.census.gov/construction/nrs/pdf/newressales.pdf">Census Bureau</a> said Tuesday morning. Economists surveyed by Bloomberg expected sales to slow more gradually to a 575,000-unit pace. The reading reflects a 12.6% drop through July and the slowest overall pace of sales since January 2016.The median sales price for new homes sold in July rose to $439,400, according to the report. While that's up from June's reading, it still falls shy of the level seen in May. The government's estimate of the number of new homes for sale rose to 464,000 from 450,000, marking the highest number of available units since March 2008.The report is the latest to show the housing market in rapid decline. The buying bonanza of 2021 quickly gave way to a significantly cooler market as rising mortgage rates crushed buyer demand. Yet prices have continued to climb due to persistently strained inventory. Elevated material costs continue to weigh on homebuilders and hinder attempts to speed up construction. Waning demand and rising prices helped pull homebuilder confidence into contractionary territory in July, signaling the US is <a href="https://www.businessinsider.com/housing-real-estate-market-recession-mortgage-rates-home-prices-deals-2022-8">in the midst of a housing-market recession</a>."It's reasonable to assume that the steepest declines in sales are behind us, though they likely will fall a bit further. For new home prices, however, the worst is yet to come," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.Another factor slowing demand is the much higher cost of taking out a mortgage than was seen over the previous few years. The average US fixed rate for a 30-year mortgage came in at 5.13% last week, Freddie Mac <a href="https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-revert-last-week?_ga=2.245518212.1825379023.1661264028-124022016.1648745092">reported</a> in its weekly mortgage market survey. Although the rate fell from the previous week's reading of 5.22%, it is still a significant increase from a pandemic low of 2.68% in December 2020."The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability," Sam Khater, Freddie Mac's chief economist, said in a statement. "As a result, over the rest of the year purchase demand likely will continue to drag, supply will modestly increase, and home price growth will decelerate."Mortgage rates have been on a <a href="https://www.businessinsider.com/mortgage-rates-fluctuating-climbing-and-falling-this-year-2022-8">proverbial seesaw</a> as the Federal Reserve combats soaring inflation by raising interest rates. Rate hikes have increased the cost of homeownership making <a href="https://cdn.nar.realtor/sites/default/files/documents/hai-03-2022-housing-affordability-index-2022-05-06.pdf">housing far less affordable</a> for many Americans. It has led to a decline in purchasing demand — and ultimately a slowdown in the real estate market. Data from the National Association of Realtors <a href="https://www.businessinsider.com/housing-market-outlook-existing-home-sales-july-mortgage-rates-prices-2022-8">shows</a> that sales of previously owned homes are also on the decline. According to the organization, in July, existing home sales declined for the sixth consecutive month to a seasonally adjusted annual rate of 4.81 million units. Not only is this rate down 5.9% from June's pace — and 20.2% from the year-ago rate — it also marks the slowest rate of sales since May 2020."We're witnessing a housing recession in terms of declining home sales and home building," Lawrence Yun, the chief economist at the National Association of Realtors, said. "However, it's not a recession in home prices. Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price."

New home sales crater to slowest pace in more than 6 years as higher mortgage rates pummel the housing market

<ul class="summary-list"><li><keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> registered 24% fewer cars in <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> during July than it did in June, a state-backed group said.</li><li>The slump comes as the world's largest market makes a rebound from pandemic-induced lows. </li><li>China is increasingly important to Tesla's success, but competitors are slowly beginning to encroach. </li></ul>Tesla registrations in China decreased 24% between June and July, a state-backed industry group said, as China's auto market stages a comeback from pandemic-induced lows. As first reported by <a href="https://www.bloomberg.com/news/articles/2020-08-17/tesla-china-registrations-slow-as-competition-heats-up?sref=LspfQlRv">Bloomberg</a> on Monday, China Automotive Information Net said Tesla registered 11,456 cars built in the country in July. Tesla, like most of its competitors, does not break out monthly figures. The news follows a separate report from the China Association of Automobile Manufacturers, which last week showed passenger-car sales <a href="https://www.businessinsider.com/china-car-sales-increase-rebound-covid-pandemic-good-sign-tesla-2020-8">staging an 8.5% rebound in July compared to last year</a>. The group said overall sales, which include commercial vehicles and trucks, were up 16.4% after a dramatic plunge earlier this year amid the pandemic.Between <a href="https://www.reuters.com/article/us-china-autos-sales/chinas-june-passenger-car-sales-down-6-5-year-on-year-cpca-idUSKBN24917W">June</a> and <a href="https://www.bloomberg.com/news/articles/2020-08-11/china-car-recovery-gathers-pace-with-july-sales-rising-8-5?sref=LspfQlRv">July</a> 2020, when Tesla had its 24% drop, numbers from the China Passenger Car Association showed a dip in overall vehicle sales as well. China is widely seen as the linchpin for Tesla's continued growth. The country accounted for 23% of Tesla's overall revenues in the second quarter, according to regulatory filings — the highest share ever. But competition is heating up.Nio —<a href="https://markets.businessinsider.com/news/stocks/nio-shot-earning-tesla-of-china-moniker-piper-sandler-outlook-2020-8-1029497493"> already called the "Tesla of China" by some industry watchers</a> — last week <a href="https://ir.nio.com/news-events/news-releases/news-release-details/nio-inc-reports-unaudited-second-quarter-2020">reported</a> quarterly financials that topped Wall Street's expectation while tripling vehicles sold compared to the same period of 2019. To be sure, however, the company's deliveries of 3,533 in July are still far overshadowed by Tesla's numbers, which topped 90,000 in the second quarter.Like Tesla, Nio's stock has also seen massive gains this year, with shares up more than 250% since January 1."We continue to believe EV demand in China is starting to accelerate in July/August with Tesla competing with a number of domestic and international competitors for market share," Dan Ives, an analyst at Wedbush with a remarkably bullish outlook on Tesla, told clients Monday. "We believe Tesla thus far in 3Q has seen strong demand in Europe and China with the US market remaining softer."

Tesla registrations slumped in China in July, even as the the world's largest auto market mounts a coronavirus comeback

<ul><li>Market research reports say that July is going to see car sales continue to remain weak across all segments.</li><li>This also means that discounts per car are increasing heavily, Maruti Suzuki is leading the monthly discounts race. </li><li>Most car manufacturers saw their sales decline in the Q1 of FY20, also affecting their profits.</li></ul>Car sales have been slipping for the last eight months, and experts are predicting a tepid July month as well. As expected, manufacturers are rolling in discounts every month, to help push sales. Maruti Suzuki is leading the way with most ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27%. Weak sales to continue July isn’t going to bring in any cheer for carmakers who are hoping for good sales, according to a research report released by Emkay Global. “Volume performance is expected to remain weak across segments due to a high-base effect, increasing cost of vehicle ownership, monsoon deficit and financing issues,” the report said. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Expected YOY drop in Sales </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">20.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">M&amp;M Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">7.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">12.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Hero Motocorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">11.7% </td></tr></tbody></table> The quarterly earnings reports of auto manufacturers also spell doom for the industry. India’s largest car manufacturer Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. Meanwhile, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>’ saw its cumulative income (Jaguar Land Rover included) dropped by 20%. And, the manufacturers are beginning to blame the government. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Rahul Bajaj, Chairman and MD of Bajaj Group said at his company’s annual general meeting. See Also: <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

Deep discounts fail as car sales are set to fall for the ninth straight month in July

<ul class="summary-list"><li><keyword id="6354910" type="UNKNOWN" weightage="60" keywordseo="careers">Careers</keyword> site <a href="https://www.theladders.com/press/data-high-paying-remote-work-opportunities-leap-more-than-1000">Ladders</a> found a 1,000% increase in high-paying job listings that allow <keyword id="1591611" type="PERSON" weightage="60" keywordseo="remote-work">remote work</keyword>.</li><li>The share of high-paying jobs that can be worked from home in the marketing, media, and design sector especially shot up.</li><li>Over a quarter of high-end sales and business development jobs offer remote work.</li></ul>Millions of Americans have been working remotely since the beginning of the pandemic, and the number of jobs that can be done from home is only growing.High-end careers site <keyword id="1318535" type="PERSON" weightage="60" keywordseo="Ladders">Ladders</keyword> recently analyzed internal job listing data for positions paying over $100,000, and found an explosion in jobs that allow remote work over the last year. In a <a href="https://www.theladders.com/press/data-high-paying-remote-work-opportunities-leap-more-than-1000">press release</a> announcing the results of that analysis, it noted that the number of high-paying remote work listings on the site increased from about 7,000 in March 2020 to more than 80,000 in July 2021.Ladders broke down the results by sector. In March 2020, less than 2% of high-paying media, marketing, and design jobs offered remote work, and that share skyrocketed to 18% in July 2021. Over a quarter of jobs in the sales and business development sector now can be worked remotely, up from about 8% before the pandemic.High-paying jobs in some other sectors are less likely to offer remote options. Less than 5% of positions in health care and in construction and engineering offered <keyword id="123591" type="PERSON" weightage="60" keywordseo="Work-from-home">work from home</keyword> in July, according to Ladders' data.The pandemic has <a href="https://www.businessinsider.com/pandemic-ended-american-daily-commute-to-work-transit-rush-hour-2021-7">ended the daily commute for many workers</a>. The Bureau of Labor Statistics' recently released American Time Use Survey found that average time spent traveling by Americans dropped from about an hour and 12 minutes a day in 2019 to just 47 minutes in 2020, and the share of people working from home almost doubled from 22% to 42%.Working from home has become a very desirable job attribute for many workers. A <a href="https://www.businessinsider.com/in-war-over-work-from-home-remote-wfh-is-winning?utm_source=notification&amp;utm_medium=referralrral">survey on work attitudes</a> run by Stanford, the University of Chicago, and ITAM shows that about a third of workers who are currently working remotely want to continue doing so full-time after the pandemic, and another 46% want to work away from the office part-time. Several <a href="https://www.businessinsider.com/remote-working-divide-amazon-twitter-goldman-spotify-hybrid-offices-2021-3">big companies like Twitter, Amazon, and Salesforce</a> have offered various remote work and hybrid-work options as they begin contemplating a return to the office. Many <a href="https://www.businessinsider.com/in-war-over-work-from-home-remote-wfh-is-winning?utm_source=notification&amp;utm_medium=referralrral">other employers could follow suit</a> if scarce workers in a red-hot labor market demand flexible arrangements.

One chart shows the explosion in high-paying work-from-home jobs during the pandemic

<ul class="summary-list"><li>Home value growth steadily continued to increase in July 2020, the "fastest pace" since May 2019.</li><li>Demand for <keyword id="41366" type="COMPANY" weightage="60" keywordseo="homes">homes</keyword> has accelerated due to lower <keyword id="6500467" type="UNKNOWN" weightage="60" keywordseo="mortgage">mortgage</keyword> rates as well and changing age demographics among millennials.</li><li>Inventory of listed homes, or the number of <keyword id="6362117" type="UNKNOWN" weightage="60" keywordseo="houses">houses</keyword> on the market, is "down 28%" at nearly 1,031,000 active listings.</li></ul>The US housing market continued to make strides in the month of July, as home value growth steadily continued to increase. The typical home price in America grew 4.5% year-over-year to $253,527 in July, according to a <a href="https://www.zillow.com/research/zillow-weekly-market-report-27151/">market report</a> released on Thursday from real-estate database company <keyword id="734105" type="COMPANY" weightage="60" keywordseo="Zillow">Zillow</keyword>. This marked the "fastest pace" of growth since May 2019.Demand for homes has accelerated due to <a href="https://markets.businessinsider.com/news/stocks/mortgage-rates-new-record-low-30-year-loans-coronavirus-housing-2020-7-1029381549">lower mortgage rates</a> as well as changing age demographics among millennials, the <a href="https://www.zillow.com/research/zillow-weekly-market-report-27151/">report</a> said."There are approximately 5 million more Americans aged 26-35 than there were 10 years ago," the report <a href="https://www.zillow.com/research/zillow-weekly-market-report-27151/">said</a>. "For those young households who still have their jobs and savings, they may view today's low-rate environment as an opportunity to lock in an affordable mortgage payment for years to come, giving them space to start a family."Inventory of listed homes, or the number of houses on the market, is "down 28%" at nearly 1,031,000 active listings. This total could potentially fall under 1 million homes, Zillow's <a href="https://www.zillow.com/research/zillow-weekly-market-report-27151/">data</a> indicates. According to the company's market report, inventory has declined because of "robust sales and anemic new listings."Furthermore, Zillow's Observed Rent Index <a href="https://www.zillow.com/research/zillow-weekly-market-report-27151/">increased</a> just 1.2% from July 2019 to $1,749 while dropping by over 2% in the New York, San Francisco and San Jose area <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">markets</keyword>.Earlier on Friday, Business Insider <a href="https://www.businessinsider.com/us-existing-home-sales-surged-record-july-recovery-continues-housing-2020-8">reported</a> that US existing home sales in July increased a record 24.7% to a seasonally adjusted rate of 5.86 million as a result of both "low mortgage rates and pent-up demand." This mark was good enough for the second month in a row of <a href="https://www.businessinsider.com/us-existing-home-sales-surged-record-july-recovery-continues-housing-2020-8">record sales gains</a>. The housing market has seen other signs of optimism recently. The US Department of Commerce on Tuesday <a href="https://www.census.gov/construction/nrc/pdf/newresconst.pdf">said</a> that housing starts in July <a href="https://www.businessinsider.com/us-housing-starts-exceed-july-forecasts-jump-most-since-2016-2020-8">surged</a> 22.6% to a seasonally adjusted 1.5 million, good for "the largest jump since October 2016."

Real estate prices are continuing to surge in America as houses are in hot demand

<ul class="summary-list"><li>Background checks for <keyword id="6371465" type="UNKNOWN" weightage="60" keywordseo="guns">guns</keyword> hit a record in March 2021, the <keyword id="6355946" type="ORGANIZATION" weightage="60" keywordseo="fbi">FBI</keyword> reported. </li><li>Close to 4.7 million background checks were conducted, a 77% increase compared to March 2019. </li><li>Experts told <a href="https://www.cnn.com/2021/06/04/us/us-gun-sales-surge/index.html">CNN</a>, fear during the pandemic and social unrest is fueling a rise in gun ownership.</li></ul>The Federal Bureau of Investigations <a href="https://www.fbi.gov/file-repository/nics_firearm_checks_-_month_year.pdf/view">reported close to 4.7 million background checks</a> for new gun purchases in March, the largest on record since the FBI began tracking them 20 years ago, revealing a record number of firearms sales in the US. The figure is a 77% increase compared to March 2019. The agency conducted over a million more background checks in March 2021 compared to March 2020, which also saw a record number of gun sales. <a href="https://www.nytimes.com/2020/03/16/us/coronavirus-gun-buyers.html">The New York Times</a> previously reported in March 2020, a record number of Americans were buying guns due to the uncertainty of the pandemic. "We attribute it mainly to the virus scare," Larry Hyatt, who owns a gun store in North Carolina and saw a record number of sales at the time told the Times. Hyatt told The Times he's seen similar influxes of people buying guns in the past. "People have a little lack of confidence that if something big and bad happens, that 911 might not work. We saw it with Katrina," Hyatt said. "People haven't forgotten that a disaster happened, and the government didn't come."Months with the highest number of FBI background checks like March, June, July, and December show months where there was political or social unrest. <a href="https://www.cnn.com/2021/06/04/us/us-gun-sales-surge/index.html">CNN</a> reported there's a record number of first-time gun buyers, like Robin Armstrong who told the outlet the current instability in the country made her want to buy firearms. "We've also seen, in times of civil unrest, that we see people go out and say that they need to protect themselves," Jack McDevitt, a criminology professor and the director of the Institute on Race and Justice at Northeastern University told CNN. "So they're going to buy guns to protect themselves."

The FBI reported nearly 4.7 million background checks for gun purchases in March, revealing a record number of firearms sales in the US

<ul class="summary-list"><li>Spending at retailers and restaurants fell 1.1% in July to $617.7 billion, the Census Bureau said Tuesday.</li><li>Economists expected sales to fall 0.2%. The drop suggests rising COVID cases slowed the US recovery.</li><li><keyword id="110880" type="PERSON" weightage="60" keywordseo="Consumer-spending">Consumer spending</keyword> counts for 70% of economic activity, making <keyword id="87998" type="PERSON" weightage="60" keywordseo="Retail-sales">retail sales</keyword> a key measure of the rebound's pace.</li></ul>Americans' spending fell more than expected in July, suggesting the latest rebound in COVID cases could hamper the US economic recovery.<keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">Retail</keyword> sales fell 1.1% to $617.7 billion last month, the <a href="https://www.census.gov/retail/marts/www/marts_current.pdf">Census Bureau</a> announced Tuesday morning. Economists surveyed by Bloomberg expected sales to fall 0.2% to roughly $620 billion. The reading marked the second decline in three months and dragged sales further from April's record high of $629 billion.June sales were revised to $624.7 billion from an initial print of $621 billion, suggesting somewhat more strength in retail during the summer than July's headline miss would suggest.Spending at auto dealers and parts vendors fell 3.9% through the month. Sales at clothing and clothing accessories stores slid 2.6%, and spending at restaurants and bars rose 1.7% last month.Consumer spending counts for roughly 70% of economic activity in the US, making retail sales a key measure for the recovery's strength. Sales rebounded strongly from their early pandemic crash through spring 2020 as stimulus checks included in the CARES Act drove spending higher. Direct payments included in the two following aid packages similarly boosted spending, and sales hit a record high in April 2021 as the country began reopening.Spending has since dipped as overwhelming demand butts heads with supply bottlenecks. Shortages of products ranging from semiconductors to lumber cut into businesses' ability to service Americans' spending spree. The imbalance also helped inflation climb to its highest level since 2008, though the latest reading suggests <a href="https://www.businessinsider.com/cpi-inflation-july-price-growth-index-economic-data-supply-shortages-2021-8">price growth possibly peaked in June</a>.<h2>Recovery slowing down</h2>The Tuesday sales report joins other indicators suggesting <a href="https://www.businessinsider.com/us-economic-recovery-hit-peak-delta-variant-cases-economic-data-2021-8">the US recovery is sputtering out</a>. Data out Friday showed Americans bracing for a dire wave of Delta cases and more economic fallout. The University of Michigan's consumer sentiment index <a href="https://www.businessinsider.com/university-michigan-sentiment-delta-fear-lockdown-cases-rising-july-report-2021-8">fell to 70.1 in early August</a> from 81.2, hitting the lowest level since 2011 and marking the largest one-month decline since virus lockdowns began in April 2020.The slide shows "a stunning lack of confidence" and was likely powered by an emotional response to soaring cases, Richard Curtin, chief economist at the university's Surveys of Consumers, said. Dashed hopes that vaccines would quickly counter the pandemic turned into negative outlooks for personal finances, the country's future, and unemployment, he added.In labor-market data, filings for unemployment benefits have mostly flatlined after months of steady decline, suggesting Americans are staying on the sidelines while <a href="https://www.businessinsider.com/jolts-july-job-openings-labor-market-worker-shortage-hiring-data-2021-8">job openings sit at record highs</a>. Initial jobless claims <a href="https://www.businessinsider.com/weekly-jobless-claims-375000-labor-market-recovery-unemployment-benefits-hiring-2021-8">fell slightly to 375,000</a> in the first week of August, matching forecasts but still landing above the pandemic-era low.Still, some experts aren't all worried just yet. It's too early to determine whether the recovery is on the ropes, and other factors certainly played a role in July's weaker spending, Ian Shepherdson, chief economist at Pantheon Macroeconomics, said."It's impossible to separate the impact of the fading stimulus boost from the possible hit due to the Delta variant, which began to hit real-time indicators like restaurant diner and airline passenger numbers in late July," he said. "A Q4 rebound is a decent bet, though, assuming the Delta surge is over by then."

Americans' spending at retailers slid to $618 billion in July, missing economist forecasts

<ul><li>Flipkart got 70 billion views in six days. </li><li>More than 50% of Flipkart Plus shoppers came in from Tier-2 cities and beyond. </li><li>Over 20 models from various mobile brands sold over 100,000 units each during the sale.</li></ul> Walmart-owned Flipkart has wrapped up its annual Big Billion Days (BBD) Sale with 70 billion views in six days. The e-commerce giant also saw a 50% hike in the number of transacting consumers as compared to the last BBD. Interestingly, more than 50% of Flipkart Plus shoppers came in from Tier-2 cities and beyond. The company also said that the biggest hit for the sale season was the mobile segment. According to the company the total number of mobile phones doubled compared to last year's sale. “More than 20 models sold over 100K units each during TBBD’19, which is a first for any event,” said the company. 10 TVs were sold per second in the first hour of TBBD‘19. One in every 10 orders came from far flung cities. And Flipkart also managed to set a few records including a delivery to a village called Tezu in Arunachal Pradesh, 100 kms from Myanmar China border, in just 3 days. “Whether it is the uptake of the Hindi interface or the adoption of our affordability constructs, engagement constructs like gaming, consumers have engaged with brands they love like never before. We take immense pride in making e-commerce more inclusive through the introduction of some top categories which during this festive season, have been able to cater to the needs of Tier-2 markets and beyond,” Kalyan Krishnamurthy, CEO of Flipkart Group said in a statement,

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