Signs of Weakness in Q3 Consumer Spending Already Visible |
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Signs of Weakness in Q3 Consumer Spending Already Visible Tax rebate dollars helped to lift consumer spending in May, which translated into a 1.5% annualized increase in inflation adjusted consumer spending during the second quarter. However, in June, inflation adjusted consumer spending fell 0.2%. Retail sales fell 0.1% in July, after a revised 0.3% gain in June. The July retail sales report points to a strong likelihood of another monthly decline in inflation adjusted consumer spending. Auto
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