Is this what they're calling 'good inflation'?
U.S. retail sales rose 0.2 percent in February, partially bouncing back from an untypically large slump in January, when sales had declined by 1.2 percent on a seasonally adjusted basis. According to advance estimates from the đŸ“„ U.S. Census Bureau, total retail and food services sales - including spending at stores, online and in restaurants - amounted to $722.7 billion in February, up 3.1 percent from February 2024. Total sales for the past three months were up 3.8 percent from the same period a year ago, indicating that - despite the wobble in January - consumers keep spending money. This matters because consumer spending - of which retail sales represent a sizeable chunk - accounts for almost 70 percent of GDP and as long as consumers don't cut back on their purchases, a recession is highly unlikely.[...]