Topic
Aggregate measure of U.S. household spending on goods and services, a key gauge of economic growth, inflation pass-through and consumer financial health.
US consumer spending rose 6.1% in the year to August before inflation and 2.6% after it, Bureau of Economic Analysis data show. Prices rose faster in August alone than over the year, so the report argues for a slower path of rate cuts.
Reality
US 10-year Treasury yields hit 5.23% on Friday, the highest since June 2007, while consumer spending tracked toward 4% growth. A curve rising from 4.90% on the 2-year to above 5.51% on the 30-year fits a growing economy better than a frightened one.
Reality
AlixPartners puts 2026 holiday sales growth at 4% to 7% while 57% of Americans say they are worse off than a year ago. One of the three reasons it gives for the gap is discounting that retailers fund themselves.
Reality
None of the Fed's own participants put the risks to GDP growth on the downside, in the same week the central bank raised rates for the first time in three years. Business Insider argues the fiscal support under 2026 spending reverses next year.
Reality
A Fortune essay puts the top quintile at roughly 60% of US consumer spending, July wages 0.20 points behind prices, and grocery Buy Now Pay Later at double its level two years ago. All three come from the same essay.
Reality
Nominal spending ran 5.9% against 3.7% inflation. Healthcare services, now 18.2% of the wallet, are growing at twice the pace of the whole consumer economy.
Reality
Walmart posted its weakest sales growth in more than six years while cutting prices on 11,000-plus items. Target and Home Depot show which baskets still clear.
Reality
Home Depot, Target and Walmart report on consecutive mornings into a thin data calendar. Their guidance, not the macro releases, is where tariff pass-through shows up first.
Reality