The answer might disappoint you.
Retail sales were soft but not terrible in June. More importantly they are at least keeping up with inflation, and don't foreshadow a recession.
Until recently, consumers had been spending less on goods and more on services. That's changing. Here's what it could mean for inflation.
Producer prices reflect costs throughout the production process. Prices for raw materials are starting to ease.
Target, Walmart and others have struggled to keep up with changes in consumer buying and have had to predict demand further in advance.
Even if growth in services sector spending slows this summer, economists don’t see it stopping any time soon.
People want to get outside and do stuff, not just buy stuff. That's reflected in surging travel bookings — and airfare.