WOLF STREET on Nostr: Recession Not Yet: Retail Sales Help Push Up Atlanta Fed GDPNow to +3.0% for Q3 GDP ...
Recession Not Yet: Retail Sales Help Push Up Atlanta Fed GDPNow to +3.0% for Q3 GDP
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Retail sales rose 0.1% in August 2024 from July; July's sales were revised up by 1.1%, while June saw a 0.3% dip; August retail sales reached $737 billion, a 1.5% increase from July; three-month average retail sales rose 0.3% month-to-month and 2.3% year-over-year; ecommerce sales increased by 1.4% month-to-month and 7.8% year-over-year; used vehicle sales jumped 8% from July to 1.68 million units; new vehicle sales rose 11% to 1.42 million units; CPI for durable goods dropped 6.1% from peak; prices for used vehicles fell 20%; Atlanta Fed's GDPNow forecast for Q3 GDP growth increased to +3.0%; significant population growth of 6 million in 2022-2023; government spending increased by 6% this year; S&P 500 closed at 5,634.58 on September 17, 2024.
#RetailSales #Gdp #Inflation #Ecommerce #AtlantaFed #EconomicGrowth #VehicleSales #ConsumerSpending #PopulationGrowth #FederalReserve
https://wolfstreet.com/2024/09/17/recession-not-yet-retail-sales-help-push-up-atlanta-fed-gdpnow-to-3-0-for-q3-gdp-our-drunken-sailors-arent-backing-off/
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Retail sales rose 0.1% in August 2024 from July; July's sales were revised up by 1.1%, while June saw a 0.3% dip; August retail sales reached $737 billion, a 1.5% increase from July; three-month average retail sales rose 0.3% month-to-month and 2.3% year-over-year; ecommerce sales increased by 1.4% month-to-month and 7.8% year-over-year; used vehicle sales jumped 8% from July to 1.68 million units; new vehicle sales rose 11% to 1.42 million units; CPI for durable goods dropped 6.1% from peak; prices for used vehicles fell 20%; Atlanta Fed's GDPNow forecast for Q3 GDP growth increased to +3.0%; significant population growth of 6 million in 2022-2023; government spending increased by 6% this year; S&P 500 closed at 5,634.58 on September 17, 2024.
#RetailSales #Gdp #Inflation #Ecommerce #AtlantaFed #EconomicGrowth #VehicleSales #ConsumerSpending #PopulationGrowth #FederalReserve
https://wolfstreet.com/2024/09/17/recession-not-yet-retail-sales-help-push-up-atlanta-fed-gdpnow-to-3-0-for-q3-gdp-our-drunken-sailors-arent-backing-off/