047: Recent Retail Sales Report 09-15-23
Megan dives into the recent retail sales report and unpacks its surprising insights.
While the headline number showed a significant monthly jump, driven by rising energy prices and spending at gas stations, Megan uncovers a different story when you exclude volatile items like gasoline, energy, autos, and building materials. The underlying data reveals a modest increase of only about a tenth for the month, following a downward revision from the previous month.
Megan looks more closely at specific sectors, noting a drop in furniture sales and mixed results for back-to-school items like clothing and electronics. She also highlights weaknesses in discretionary spending categories such as internet shopping and dining out, indicating a potential trend of consumer weakness.
With oil prices remaining a key factor, Megan discusses what this means for consumers as we head into the fourth quarter. If you have any questions or comments, feel free to reach out to the podcast team at [email protected].
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