Actions speak louder than words. What's the point of asking consumers their opinion of the economy when we can judge by their actions, their actual monthly purchases of retail goods. The Census Bureau samples that behavior each month. The retail sales figures are the best barometer of consumer attitudes about the economy. Moreover, they are the best measure not only of attitudes, but also consumer wherewithal. If consumers have the means, they'll spend. If they don't, they won't. And if they don't, they'll probably feel lousy about the economy. It all shows up in the retail sales numbers.
Retail Sales Data Shows Consumers Cutting Back on Necessities of Life
You need to login to view this content.
David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.