Retail exchange traded funds move along in tepid trading before a key update to personal income levels in a weakened U.S. labor market.
Economic data on personal income and consumer spending will be released Friday, Sept. 27.
Income was only 0.1% higher in July after a 0.3% gain in June. Wages and the salaries component declined 0.3% in July after a 0.4% rise in June. Analysts anticipate a 0.4% rise in personal income for August, according to Bloomberg. [Stock ETFs Dependent On Consumer Spending May Be In Trouble]
Headline inflation remains relatively flat, rising 0.1% in July, after a 0.4% increase in June. Observers expect a August inflation to be 0.1% higher.
Consumer spending dipped 0.1% in July after a 0.6% increase in June. Analysts expect a 0.3% rise in August. Spending is still moving along.
“The economy, employment, wages, and retail sales continue to stagger along. Retailers and consumers are resilient but not overly optimistic about the broader economy,” NRF President Matthew Shay said in a 4-traders article, but “positive retail sales growth continues month-after-month.”
For instance, August Nonstore retailers’ sales figures, or e-commerce internet shopping, rose 0.5% month-over-month and jumped 8.8% year-over-year.
SPDR S&P Retail ETF
For more information on consumer spending, visit our retail category.
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.