Retail sales increased 0.7% in July, better than expected as consumer spending is holding up (www.cnbc.com)

submitted 1 year ago by Valdair@kbin.social to c/personalfinance@lemmy.ml

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The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos, sales rose a robust 1%, also against a 0.4% forecast. Both readings were the best monthly gains since January.

It seems as long as consumer spending remains strong the risk of recession is low despite the rapid Fed rate hikes.

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[-] fresh@sh.itjust.works 1 points 1 year ago

It’s true that inflation presents an arbitrage opportunity, but I seriously doubt the average consumer is thinking with anything close to that level of sophistication. I mean, most consumers leave debt sitting on their credit card instead of paying it off when they can.

this post was submitted on 16 Aug 2023

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