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 June include:
- In the US, gasoline prices jumped by 24.3% year over year in June, while retail sales (ex gasoline) continued to grow solidly.
- In the UK, retail sales posted robust growth and inflation eased.
- In China, calendar effects contributed to a slight strengthening of retail sales growth, although the medium-term trend remains one of a softening of retail growth.