The Redbook retail sales growth is approaching double digits, with US consumer resilience once again exceeding expectations.
- According to the latest Redbook data, U.S. retail sales in the first three weeks of June increased by 9.5% year-on-year, with the year-on-year growth rate in the week ending June 20 reaching 10.0%. This indicates that consumer spending has maintained strong momentum in the initial phase of the summer shopping season.
- This growth rate is significantly higher than the average increase in retail sales before the pandemic, suggesting that despite macroeconomic uncertainties, the purchasing power and willingness to spend among American households remain at a high level, with both discretionary and everyday consumption categories receiving broad support.
- Three consecutive weeks of nearly double-digit same-store sales growth provide positive evidence for second-quarter economic growth expectations. The market will be watching to see if this strong performance can be sustained into the July Independence Day sales window.
- The better-than-expected retail data may also reinforce the Federal Reserve's view that inflationary pressures have not fully dissipated. With continued strength in consumer spending, the Fed's cautious stance on monetary policy may face further challenges from real economy data.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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