After a drop in July, retail sales gained ground in August. The Commerce Department posted that U.S. retailer sales grew 0.7% last month.
The rise in retail sales comes days after initial claims (an indicator for layoffs) were reported to be near a pandemic low. Furthermore, the unemployment rate was 5.2% in August, a 0.2% decrease month-over-month.
Some investors are feeling confident that America hasn’t really started to break the bank. 💸 According to analysts, retail sales were high despite the Delta variant last month, leaving many asking what could happen if Delta’s threat was mitigated. Analysts point to suppressed travel numbers, anticipated employment growth, and other similar factors.
But some analysts have a new favorite boogeyman — you’ve heard of inflation, but what about stagflation? 👻 Stagflation is characterized by slow growth and high inflation, which some analysts repeatedly insist is more likely given our trajectory. Analysts have cited rising energy prices, supply chain shortages, and the like.
Three indexes were down today in spite of the good news.