cover of episode UBS On-Air: Paul Donovan Daily Audio 'Hedonism day'

UBS On-Air: Paul Donovan Daily Audio 'Hedonism day'

2024/9/17
logo of podcast UBS On-Air: Market Moves

UBS On-Air: Market Moves

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Shownotes Transcript

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).