US: Overall spending to continue to moderate as inflation persists and rates rise – Wells Fargo – by MSalordFX UnitedStates RetailSales Banks
remained unchanged in September compared to August. Stripping volatile retail segments suggests some modest upward risk to third-quarter goods spending, explain analysts at Wells Fargo. They point out that the report adds to recent evidence that consumer staying power may be waning, but it's showing few signs of breaking.“Consumer goods purchases are slowing, but not collapsing.
“Households have broadly looked past elevated inflation and continued to spend by relying on their balance sheets and accumulated savings. We expect overall spending to continue to moderate as inflation persists and tighter monetary policy begins to weigh more meaningfully on consumption.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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