Macro - Weekly Briefings - US
July's core retail sales figures showed that consumers stepped up their buying activity as they entered Q3. Spending will receive a further boost in the coming months as consumer goods and energy price gains continue to slow. The resilience of the consumer and sturdiness of the labor market indicate that the economy is not on the precipice of a recession. And a healthy acceleration in real consumer spending will lead GDP growth back to positive territory in Q3.
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