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.
- In the US, gasoline prices were up by one-quarter year over year, yet retail sales (excluding gasoline) continued to grow strongly.
- In the UK, retail sales growth strengthened even as inflation began to outpace wage growth.
- In China, the medium-term slowdown in retail sales growth continued.