Monthly Consumer Update: US, UK and China

Key Points

Each month, we round up key metrics that reflect consumer demand in the US, the UK and China. In these updates, we focus on direct, leading indicators of the health of the consumer economy—namely, wage growth, price changes and retail sales growth.

In September:

  • Year-over-year growth in US retail sales excluding automobiles and gasoline slowed to 3.1 %.
  • UK retail sales growth remained solid, registering a 4.2 % increase year over year.
  • Chinese retail sales growth accelerated for a second month, rising by 9.2 %.