Holiday retail sales will be ‘most surprising’ in 3 years, economist says
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#holidays #holidayshopping #retail #unemployment #yahoofinance The US Misery Index — a composite measurement of unemployment and inflation rates — is on track to end 2023 at 6.8%, its lowest level since the COVID-19 pandemic. While consumers continued to spend through the holiday shopping season, how is the Misery Index becoming apparent in consumer sentiment? Robertson Stephens Chief Economist Jeanette Garretty details the trends seen in recent consumer spending patterns and the data that may serve as a “check engine light” in 2024. “There is very little… economic evidence that consumer sentiment directly feeds into those near-term spending patterns — it is really driven by income. Income is up,” Garretty explains […]