Each month, we round up key metrics reflecting consumer demand in the US, the UK and China. We focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. Metrics for May include:
- In the US, gasoline prices jumped by 21.8% year over year in May, while retail sales (ex gasoline) continued to grow strongly.
- In the UK, retail sales growth bounced back strongly in May.
- In China, food-price inflation eased further, and calendar effects contributed to a slowdown in retail sales growth.