Q3 Retail Sales Tracking Positively Despite August Setback

Trusted Insights for What’s Ahead^®™

• Weak nominal and real retail sales in August may have reflected a pullback in spending after July’s splurge, but also concerns about recession in the aftermath of the August equity market meltdown and increasing worries about the labor market.
• Indeed, The Conference Board Consumer Confidence Survey revealed an increase in the number of write-ins from consumers saying the stock market and unemployment were having a major impact on the economy. Consumers were also less upbeat about expectations for the stock market and job prospects going forward.