Reported about 2 months ago
The financial health of the American consumer appears stable, as indicated by Walmart's CFO, who noted that customers are prioritizing essentials and showing discerning spending behavior. Although there is a slowdown in retail spending growth, overall consumer finances remain healthy, contributing significantly to GDP. Retail sales hit a record $709.7 billion in July, despite a plateau in spending growth trends. This reflects a cooling economy that might be transitioning into favorable conditions for sustained growth while inflation eases.
Source: YAHOO