Retail Sales Suggest US Consumers Spent Some Gas ‘Savings’

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
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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?

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