Monthly Consumer Update: US, UK and China – December 2018

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Key Points

Each month, we round up key metrics that reflect consumer demand in the US, the UK and China. In these updates, we focus on direct, leading indicators of the health of the consumer economy — namely, wage growth, price changes and retail sales growth.

In December:

  • U.S. consumers enjoyed a double boost from strengthening wage growth and gasoline-price inflation turning to deflation.
  • U.K. retail sales growth slowed sharply. 
  • Chinese retail sales growth strengthened a little after several months of slowing growth.  

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