-
Contrary winds for US consumer spending in first quarter 2022
It may be a little tough to parse out the state of consumer spending in the first quarter of 2022. It will definitely be hard to assess spending based on a single month’s data. There are a number of things to keep in mind that are going to make the month-to-month changes volatile and the year-over-year comparisons unequal. First, inflation has kicked in. By definition it will push up the dollar value of retail sales, especially in those areas where shortages have allowed sellers to avoid post-holiday discounting. On the other hand, shortages also mean fewer goods to sell. Buyers who need things like replacement ... (full story)