Resilient Retail

retail Given that consumer spending accounts for two-thirds of GDP and retail sales account for one-third of that, the 0.2% rise in November retail sales was superficially disappointing. But Y-o-Y inflation is zero! Were inflation just 2.3%, retail sales growth would have been double what it was! Moreover, Y-o-Y retail sales are up 3.6%, and non-store retail sales are up 7.3%! Consumers are buying, the lack of inflation is muting it.

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.