Published 11 Dec, 2023
Recent data releases suggest the US economy remains resilient. On November 29, the second estimate for Q3 GDP saw an upward revision from 4.9% to 5.2%, driven by the increase in consumer spending and inventory investments.
Consumers continued to spend in October, though not as strongly as they did in September. Retail sales dropped marginally by 0.1% month-over-month (MoM), though remained positive over the year at 2.5% year-over-year (YoY). The strong annual growth trend has been consistent over the past few months and does not take into account the impact of inflation.
Graph 1: Monthly Retail Sales and Inventories - Adjusted
Source: US Census Department; Advance Monthly Retail Trade Survey
The marginal monthly drop in retail sales reflects the continued declines in the motor vehicles and parts dealers category, ... READ THE ENTIRE 20 PAGE REPORT BY CLICKING HERE.
Privacy Policy | © 2024. Truflation - All Rights Reserved.