Posted on 08/15/2023 6:49:49 AM PDT by ChicagoConservative27
US consumer spending rose more than anticipated in July, according to government data released Tuesday, showing resilience even as the economy cools on the back of a boost from online spending.
Retail sales in the world’s biggest economy advanced 0.7 percent to $696.4 billion last month, up from a revised 0.3 percent rise in June, said the Commerce Department.
Consumption has proven more robust than expected in the United States as households dip into savings accumulated during the pandemic, supporting growth while business activity slowed in recent months.
(Excerpt) Read more at breitbart.com ...
This probably means The Fed will boost rates further.
Always a good sign of a strong economy! [/s]
Hooray!! We’re saved!!!
‘Back To School’ spending on supplies and clothes. Dead Cat Bounce. We’re still screwed. Nothing to see here. The economy still sucks.
Amazon makes it sooooo easy. Loading empty boxes into the car to take to dumpster. lol
Inflation also boosts the dollar amount of consumption. We are spending more for less.
Over $1 trillion in credit card debt.
The rat party is killing retailers by not enforcing laws against theft. People are afraid to go shopping in the malls in urban cities because of the rat party.
🐀 🐀 🐀 🐀 🐀 🐀 🐀 🐀 🐀 🐀 🐀 🐀
You would think that the rat party would go after Amazon for all the waste going to the dump.
This past weekend was “Tax free weekend” here.
LOTS of shopping going on because of back to school and no taxes on a lot of items.
Inflation adjusted?
And they are welcome to it! Debt free in this household, with the exception of about $30K on crop land (at 3%!) that will be paid off shortly, as the bank that holds that mortgage just got downgraded by Moody’s! (Old National)
Yes, that’s a big contributor.
This article is junk. As I said, Dead Cat Bounce...then back to more fun and frivolity for Brandon & Son while America slides into the abyss...
Families are dipping into savings for summer vacations (whether they can afford to or not) and back to school purchases.
Correct, a lot of the crap schools ask for are only available online. Or they live in rural for gas for shopping, Some in places like Montana nearest Walmart is a 100 miles or more round trip. We went through this when they stopped carrying fabric for quilters.
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