U.S. retail sales, which had been the highest-flying piece of American economic data for most of the year, fell in September for the first time in 7 months, raising fears that the U.S. manufacturing recession may be bleeding into the consumer side of the economy.
The big picture. Data from the Commerce Department showed the drop was a result of households cutting spending on building materials, online purchases and especially automobiles. Online retail sales also turned negative for the first time since December 2018.
A landmark privacy law in California, which kicks in Jan. 1, will give Golden State residents the right to find out what a company knows about them and get it deleted — and to stop the company from selling it.
Why it matters: It could effectively become a national privacy law, since companies that are racing to comply with it may give these privileges to non-Californians, too.
Led by wind and solar, renewable energy will make up nearly 50% of global electricity within the next 30 years, up from today’s 28%, according to new data from the U.S. Energy Information Administration.
Yes, but ... The data also finds that carbon dioxide emissions will keep rising over that same time period, underscoring a stubborn, inconvenient fact: To tackle climate change, you need to address the emissions from oil, natural gas and coal, not just rapidly increase renewables.