August 2026 U.S. retail sales remained positive in real terms, but the headline conceals two important pressures: relative weakness in motor vehicles and the growing share of household spending absorbed by gasoline. The broad figures are encouraging at first glance. Total retail and food-services sales increased by 1.856% year over year in August, while the January–August … [Read more...] about August 2026 U.S. Retail Sales: Real Growth Persists, but Fuel Costs Distort the Headline
Consumer Spending
The Fed’s Rate Hike May Be Priced In—Oil Will Decide What Comes Next
The latest 25-basis-point increase may already be largely reflected in Treasury yields, mortgage rates and business borrowing costs. The real question is whether oil-driven inflation will persist and lead markets to price another rate hike—and whether higher rates can do anything about the source of that inflation. The Rate Hike May Already Be Priced In There is little value … [Read more...] about The Fed’s Rate Hike May Be Priced In—Oil Will Decide What Comes Next
U.S. Personal Income and Spending, July 2026: Shadows and Bright Spots Coexist
U.S. personal income and spending data for July 2026 confirm an economy in which shadows and bright spots are not taking turns—they are coexisting. Real wage growth has weakened, income from assets has lost purchasing power and households have drawn heavily on savings. At the same time, transfer receipts and lower personal taxes are supporting disposable income, while … [Read more...] about U.S. Personal Income and Spending, July 2026: Shadows and Bright Spots Coexist
U.S. Retail Sales July 2026: Real Spending Improves, but Gasoline Demands Caution
July confirmed that U.S. retail spending is recovering in real terms, but the expansion remains narrow. Elevated gasoline spending strengthened the total index without providing the same economic benefit as broader demand for goods and services. Key Takeaways Official seasonally adjusted retail and food-services sales fell 0.6% month on month in July but remained 5.0% … [Read more...] about U.S. Retail Sales July 2026: Real Spending Improves, but Gasoline Demands Caution
US Personal Income June 2026: Consumption Holds Up as Savings Collapse
Some light and many shadows at the 2026 half-year mark. The June 2026 US personal income report presents a divided household economy. Consumers are still spending, private-sector wages remain positive in real terms and lower current taxes are helping disposable income. However, overall real income growth is weak, income from assets remains under pressure and personal saving … [Read more...] about US Personal Income June 2026: Consumption Holds Up as Savings Collapse
June 2026 Retail Sales After CPI: Real Consumer Spending Improves
Unadjusted US retail-sales data for June 2026, adjusted using CPI All Items, provides an encouraging indication of recovery in real consumer spending. However, the wider six-month trend remains more moderate than the June result alone suggests. Official June 2026 Retail Sales The US Census Bureau estimated seasonally adjusted retail and food-services sales of $768.6 billion … [Read more...] about June 2026 Retail Sales After CPI: Real Consumer Spending Improves
Employment Report June 2026: Numerical and Monetary Analysis of the U.S. Labor Market
The June 2026 Employment Report needs to be analyzed from two different but closely connected perspectives: the number of people employed and the real purchasing power generated by their earnings. Employment Must Be Analyzed in Both Numerical and Monetary Terms Employment is one of the fundamental pillars supporting the economic system and financial markets. However, … [Read more...] about Employment Report June 2026: Numerical and Monetary Analysis of the U.S. Labor Market
June Employment Data: Real Weekly Earnings Reveal the True Labor-Market Position
The headline employment numbers show that job creation is slowing. However, the most important measure for workers, consumption and the wider economy is not simply how many jobs were created. It is whether weekly earnings are increasing faster than inflation. Employment Growth Is Slowing The June employment report confirms that the pace of job creation is … [Read more...] about June Employment Data: Real Weekly Earnings Reveal the True Labor-Market Position
Personal Income – May 2026: Consumer Strength Continues Despite Income Pressures
The May 2026 Personal Income report confirms a trend that has been developing for several months. While inflation and elevated borrowing costs continue to pressure household finances, the U.S. consumer remains remarkably resilient. Real personal consumption continues to expand, supported by steady wage growth, government transfers, and a willingness to draw down … [Read more...] about Personal Income – May 2026: Consumer Strength Continues Despite Income Pressures
Retail Sales and Consumption: Energy Costs Continue to Weaken Real Consumer Demand
May 2026 retail-sales analysis, with an energy-price update through mid-June 2026 The current retail-sales and consumption picture is not positive. Although headline sales may rise in nominal dollar terms, inflation-adjusted data indicate that consumers are purchasing less in real terms across important parts of the economy. A sustained slowdown in consumption does not affect … [Read more...] about Retail Sales and Consumption: Energy Costs Continue to Weaken Real Consumer Demand