- Retail sales climbed back to record levels in June and continued to grow in July and August - despite painful levels of unemployment and income loss.
- But the good times will not last much longer: The massive government income support programs that funded consumer spending are ending, while shoppers will need to resume normal household necessities.
- Absent additional government interventions - which seem increasingly unlikely - retail sales will soon fall again and remain depressed until the pandemic eases and the economy recovers.
For further details see:
The Deceptive Recovery In Retail Sales Can't Last