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Can consumers positively impact the current economic outlook?
(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)
In the month of July, consumer retail purchases in the U.S. escalated even though larger scale purchases, like motor vehicles, declined. This positive trending data may shed a little light on the current market as fears of a global recession rise. Amazon Prime Day and other competitive sales may have been a contributing factor to this growth. This increased consumer spending shows faith in the economy, which is an encouraging sign that will hopefully continue.