Drive!

In U.S.: retail sales show midsummer muscle

We read

“U.S. retail sales rose a healthy 0.5% in July, showing the economy still has plenty of punch left at midsummer.”

It´s all about gas prices and American’s penchant for driving! Once you subtract gasoline sales from total retail sales, consumers are not “showing muscle” or “punch.” In fact, they have “weakened”!

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