United States:
Ankura Monthly Economic Indicators Overview [October 2023]
24 October 2023
Ankura Consulting Group LLC
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After a period of recovering consumer sentiment, inflation and
concerns over personal finances have started to erode the gains
made during the summer months, leading to a decline in the Consumer
Sentiment Index since its peak in July 2023. In October alone,
consumer sentiment plummeted by more than 7% on a month-to-month
(MTM) basis, painting a less optimistic outlook for retailers
anticipating robust holiday sales.
September retail sales increased 4%, with MTM sales increasing
.6%, exceeding analysts' expectations with strong increases in
food services and dining (9.2%), non-store retail (8.4%), and
health and personal care (8.3%). However, key hard goods segments
continue to show year-over-year (YOY) declines as consumers
continue to hold off purchases on durable goods and discretionary
purchases.
Ankura Monthly Economic Indicators Overview
[October 2023]
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