Consumer Resilience Holds but Fundamentals Erode, Data Shows
Recent data including retail sales and card transactions indicate solid nominal consumption, but underlying economic fundamentals continue to weaken.
The upcoming economic week highlights a mixed picture for consumer spending. While resilience appears to persist in nominal terms, underlying fundamentals are eroding. Incoming data such as control group retail sales and higher-frequency card spending suggest a solid nominal consumption backdrop. However, the broader trend points to a gradual deterioration in economic health.
Source: FXStreet Forex News