Senior Economist, Bank of America Institute
Appears in 1 story
Leading analysis of nested income divergence in consumer spending
American retail sales went nowhere in December, the weakest holiday shopping finish since 2018. The Commerce Department reported $735 billion in sales—unchanged from November—while economists expected 0.4% growth. Eight of thirteen retail categories declined, with furniture and auto sales hit hardest by tariff-driven price increases.
Updated May 27
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