March 16, 2022
February Retail Sales – Healthy (For Now) Despite Record Gas Prices
February retail sales up 17.6% (nominal) and 9.7% (real) year-over-year. Primary drivers of the year-over-year increase include spending on gasoline (+36.4%), restaurant dining (+33.0%) and apparel (+30.6%). Despite sustained strength in real retail sales growth, heightened inflationary pressures exacerbated by the Russia/Ukraine conflict are posing a threat to consumer demand and therefore economic growth. In […]
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