SFS Insights

Strong Spending

February 17th 2023

MoM- month over month

The retail sales data for January was strong and shows that the US consumer is not slowing down, see above chart. This is not surprising with a strong labor market, strong wage growth, and high savings across all income groups.

Incoming data for airlines, hotels, restaurants, movie theatre visits, and Broadway shows continue to be strong, and consumer services are not slowing down. And with retail sales mainly measuring goods consumption, the bottom line is that even consumer spending on goods continues to do well.

Robert Schermerhorn, CFP®

Jamie Usas, CFP®

Operations Manager

Amanda Friedman

Wealth Consultant

Andrew Chapman, CFP®

Operations Research Associate

Lauren Bliss

Office Coordinator

Saratoga Financial Services

18 Division Street, Suite 305

Saratoga Springs, NY 12866

Phone: (518) 584-2555

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