An economics strategist at TD Securities has said that the latest US retail sales report is "simply disturbing" and comes as further evidence that consumers are struggling.

Millan Mulraine told CEP News that the report was much worse than the markets had been anticipating and came as a major blow to the economy.

"On the whole, the strains on US consumers are beginning to show and this report is yet another indication that consumers are beginning to retrench their spending," he remarked.

He pointed to weak domestic growth, tighter credit conditions and a deteriorating labor market as issues consumers are having to deal with.

Meanwhile, the Associated Press reports that according to experts, the "easy" days of credit are over and consumers are likely to find securing loans much more difficult in the future.

Anyone struggling to obtain credit could find the answer in pay day loans, which they can apply for online and which offer a short-term solution to financial emergencies.

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