Retails Sales, Consumer Optimism Are Key Indicators of Economic Growth - Your Bottom Line
"Consumers are 70% of the economy, so if they’re not spending, the economy isn’t doing very well,” Dunkelberg said. Commerce Department data released August 14, showed retail sales rising by .8 percent in July – the first increase in four months. Dunkelberg said consumer optimism is tied to things such as tax policy and the cost of gasoline, pointing to more signs of trouble as gas prices have risen steeply in recent weeks. The University of Michigan survey of consumer sentiment fell to its lowest level in six months in July. 2:38
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