- Retail sales growth sluggish in August as consumers fight to keep up with inflation.
- Excluding autos, sales decreased 0.3% for the month, below the estimate for a 0.1% increase.
- “Higher inflation drove the top line sales figure but volumes are obviously falling because on a real basis, sales are negative,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Core retail sales being well below expectations will result in a cut to GDP estimates for Q3 as stated.”
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Duh: Retail Sales Stumble As #Bidenflation Robs Wallets
