Supported by tax rebates and lax monetary policy |
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Retail & Food Services Sales (June, Tuesday 8:30 ET) F: 0.2, 0.7% C: 0.3, 0.8% P: 1.0, 1.2% Supported by tax rebates and lax monetary policy, consumer spending, particularly on non-durable goods and services, proved resilient in the second quarter. On the contrary, spending on durable goods deteriorated significantly. For instance, auto sales –about a third of total consumers’ spending on durable goods- dropped 4.9% to 13.6 million of annualized units in June; this was the lowest level
Filed under: Fundamental
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