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If I could, I would, but I can’t, so I won’t. - Anonymous
Long-standing subscribers of The Lead-Lag Report will acknowledge the significance I attach to the health of the U.S. consumer while gauging broad economic conditions as it accounts for two thirds of the economy. Retail sales serve as an apt corollary of consumer health, and the latest reading does imply that the post-lockdown momentum may be ebbing.
As flagged in The Lead-Lag Report, after spiking impressively in May by double digits, the pace of growth has since slowed, and most recently in July,