Per the WSJ, retail sales climbed 0.2% in June, the smallest gain since January. The Journal observes that the fact that outlays at restaurants, clothing outlets and department stores picked up while purchases of cars, furniture and building materials fell, a reversal of the activity of the previous month, signals that consumers are struggling under weak wage growth, and are therefore making tradeoffs. (Consistent broad based growth across categories, even if slow, would be a healthier sign.)
Posted on: Wed, 16 Jul 2014 13:37:40 +0000
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