Retail sales topped forecasts in November, growing at a robust pace for the third month in a row. Sales at retail and online stores increased by 0.7%, according to the Census Bureau on Tuesday. Car sales were behind the increase, yet sales also looked strong in other key components. The control ... READ MORE >
consumer spending
September retail sales top forecasts
American consumers remained upbeat about the economy in September as spending at retail stores and online exceeded consensus forecasts. Retail sales for all items increased by 0.4% while the control group grew by 0.7% in September. Our forecasts had called for a 0.5% increase for both numbers, so the ... READ MORE >
Canada’s consumer price index hits 2 per cent target
Canada's consumer price index hit the pivotal 2 per cent target in August as inflation continued a downward trajectory, according to Statistics Canada data released on Tuesday. The drop is thanks to lower gasoline prices compared to a year ago. The Bank of Canada will need to continue rate cuts amid ... READ MORE >
Fed’s key inflation gauge shows price stability as consumers hit the accelerator
Disinflation, strong household consumption and incomes rising above the rate of inflation continue to be the defining narrative of the U.S. economy as it heads into the second half of the year. With the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures index, ... READ MORE >
Second quarter GDP is revised higher amid stronger consumer spending
The growth scare that rocked the market in early August looks premature after the release of new data on gross domestic product and jobless claims. Growth was stronger in the second quarter, revised up to 3.0%, than the first estimate, driven largely by a sharp upward revision to consumer spending, ... READ MORE >
U.S. gas prices poised to decline by 10% ahead of July 4
Traditionally, gasoline prices in the United States peak just ahead of the July 4 holiday as consumers get ready to hit the road and vacation season begins. But this year is shaping up to be a different story. Because of supply conditions and easing demand, domestic gasoline prices peaked at $3.67 per ... READ MORE >
U.S. retail sales in February grew at the fastest rate since September
Retail sales rebounded in February, showing that the sharp drop in January was likely more noise than trend, according to data from the Commerce Department on Thursday. Once the seasonal factors in January’s data faded away, overall spending at retail stores, restaurants and online remained solid ... READ MORE >
How real is the wealth effect in a bull market?
Despite what you might read or hear, the stock market is not the economy. But that does not mean you should ignore the effect that the stock market has on household income and spending, the labor market, overall financial conditions and economic growth. A 2021 paper in the American Economic Review ... READ MORE >
U.S. income and spending see strong gains as year nears an end
This past year was a remarkable one in the American economy as inflation eased, employment gains remained rock solid and household consumption advanced at a robust pace. November’s personal income and spending report, released by the Commerce Department on Friday, showed a 0.4% monthly increase in ... READ MORE >
Retail sales and producer inflation fall in October
Government data for October's retail sales and producer inflation has raised the probability of a soft landing by a significant margin. While sales slowed, the data came in higher than expected. When considered with an upward revision to September's reading, October's retail sales indicated ... READ MORE >