Retail sales were unchanged in July, as a rebound in motor vehicle sales was largely offset by a price-related drop back in the value of gasoline station sales. After a clearly unsustainable 4.2% surge in real consumption in the second quarter, which is likely to be revised even higher given the upward revision to June’s sales, this is the first sign of a slowdown to a more normal pace.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.