August retail sales are likely just the beginning of the resurgence of the US consumer

Signs are pointing to a further pickup

Bank of America is out with a note today saying:

"We find evidence that consumers have picked up their spending outside of their home metropolitan statistical area .. we need to see further evidence in coming weeks - if so, it could be an early sign that the Delta-lull is passing and a mini-reopening cycle is starting."

JPMorgan is also out with its latest spending data report and it continues to show spending well above July/August levels with a sharp recent pickup in transactions where people are present with cards (reopening indicator).

 
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September 17, 2021 at 01:04AM
Adam Button
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