UBS On-Air: Paul Donovan Daily Audio 'Hedonism day'
UBS On-Air: Market Moves · Podcast owner
September 17, 20242m 9s
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Show Notes
It is hedonism day in the US, with the release of August retail sales data. Two limits to the data. This is a value measure, and US goods prices have been falling for four months now. This underrepresents consumption at a time when people are still favoring fun over goods. Instagram reels of holidays and congealing restaurant meals cost money (and of that spending, only the congealing restaurant meals are captured in retail sales).