023: Retail Sales 07-19-23
Have you ever contemplated the resilience of consumer spending in a slowing economy? Prepare to be enlightened as we explore this conundrum with Megan Horneman, our Chief Investment Officer. Megan takes us on a journey through the latest retail sales report for June, illuminating the surprising strength of consumer spending, particularly in discretionary items like furniture and electronics. She further sheds light on the significant increase in internet shopping during this period.
However, this journey isn’t just about the sunny side. Megan issues caution, reminding us that one month’s data doesn’t set a trend. She ventures into the stormy seas of mounting credit card debt, high credit card rates, and the looming dread of repaying student loans. Couple these with an economy that’s losing steam, and we could see a squeeze on consumers in the coming months. Megan also raises thought-provoking points about the retail sales report, notably its lack of inflation adjustment, which paints a slightly different picture of real personal spending. Join Megan for this insightful economic analysis and let us know your thoughts and queries via [email protected].
