All Posts Tagged: retail sales
Consumers are on a roll. But how long can it last? Consumer spending has been robust. Growth in nominal retail sales, including food services from a year ago, was 6.6% in August and has exceeded 6.0% over the last four months.
This is a clear sign of household strength and resilience at this stage of the expansion.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on September 14.Key observations:
- Annual growth in 2018 has averaged 6.1% through August compared to 4.1% over the same period in 2017.
- Consumer confidence rose to an expansion high of 133.4 in August.
- The fastest growing categories of retail spending have been gas stations (+20.3%), nonstore retailers (+10.4%), and restaurant and bars (+10.1%).
- While personal savings rates still remain healthy, without faster real income growth to support it, consumer spending will inevitably slow.
Unfortunately, the period of 3% GDP growth appears to already be in our rear-view mirror.Read More ›
December retail sales came in at a robust pace, and November sales were revised higher, cementing a decent increase in real consumer spending for the fourth quarter.Read More ›
Retail sales gains have been impressive over the last three months.Read More ›
The Bloomberg economic surprise index is at its highest level since March, as U.S. economic indicators have been generally surpassing economists’ forecasts over the past month.Read More ›