Retail Sales finding a new normal
After explosive growth through 2022, retail sales rose by only 5% in 2023, and as of January 2024, retail sales have increased by only 1% over last year’s level. Adjusted for inflation, this means that real retail sales were 2.5% below last year’s level.
It should be noted that, while below last year’s level, retail sales, even after adjustment for inflation, is 15% above its pre-pandemic high.
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(Original air-date: 3/15/24)
