Retail Sales Suggest US Consumers Spent Some Gas ‘Savings’

Retail sales were unchanged in the US last month, reflecting a weekslong drop in gas prices, data out Wednesday showed. Consensus expected a small gain. The range of estimates, from more than five-dozen economists, was -0.5% to 0.9%. Spending at gas stations fell 1.8% from June (green bar in the figure, below), a welcome reprieve after burdensome increases in prior months. But, in a testament to the notion that incremental relief is no substitute for a return to normalcy, gas station receip
Every story you need, no story you don't. Get the best daily market and macroeconomic commentary anywhere for less than $7 per month. Subscribe or log in to continue.

2 thoughts on “Retail Sales Suggest US Consumers Spent Some Gas ‘Savings’

  1. “The numbers weren’t indicative of a consumer inclined to save money at the first opportunity (…) Americans are far from any sort of across-the-board retrenchment”.

    The American consumer. Tougher to kill than a horror franchise villain!

  2. H-Man, since retail sales are not adjusted for inflation, and the numbers were basically flat from the previous month, I wonder how much of this was attributable to stuff (which includes food, liquor and beverages) simply costing more?

Speak your mind

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

NEWSROOM crewneck & prints