Consumer Spending. Retail sales climbed in August, but the increase was smaller than in previous months, prompting concerns of a recovery that is slowing down. The large gains in consumer spending achieved by reopening a shuttered economy are behind us, and the downside risk of slower growth is emerging. Consumer spending on goods has been bouncing back from its steep pandemic drop, while spending on services remain impaired. Consumer Spending has been shifted slightly left as it currently is less of an influence toward higher interest rates.
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