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Ahead of the ISM services survey, there are signs of a weakening US consumer

Ahead of the ISM services survey, there are signs of a weakening US consumer
Here is a good thread from Bob Elliott highlighting that spending trackers from Morgan Stanley, JPM, and Citi all show recent weakening.Here's what Citi had to say: Our Citi Card Data showed Hardlines Retail spending declined -12.2% y/y in August, which was worse than July's decline of -9.3% yly and marked the weakest 1- year growth rate since March 2023. On a 2-year basis, August also came in below July's trend. By category, the pace of y/y declines worsened in August across the board led by d... Read More
Posted: Sep 6 2023, 13:40
Author Name: forexlive
Views: 102212

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