Information drought continues
– by New Deal democrat
There isn’t a new vital financial information at present, and I’m on the street. Significant reporting ought to resume tomorrow with housing permits, begins, and development.
Within the meantime, here’s a have a look at a excessive frequency collection I preserve observe of: Redbook retail gross sales, for the previous yr:
There are some peaks and valleys, typically round Holidays like Thanksgiving, Christmas, and the like, however the common over 4 weeks has stayed pretty regular at +5% YoY, which is about regular throughout expansions.
Since client inflation, particularly ex-housing costs, has remained within the 2%-3% vary, this implies there was a reasonably regular enhance in client spending that has continued over the previous yr.
In different phrases, “steady as she goes.” And because the client financial system is about 70% of the entire financial system, that has just about been the story for your complete financial system.
