U.S. September Consumer Demand Slows, Economic Indicators Show

According to BlockBeats, recent data from credit card transactions and the private sector indicate a slowdown in U.S. consumer demand last month. Economists, after analyzing high-frequency spending data such as credit card borrowing and same-store sales, noted that consumers are beginning to tighten their spending following a robust 4.1% annualized growth in retail activity over the previous three months. Bank of America economist Shruti Mishra highlighted a month-to-month deceleration in spending from June to August, suggesting that the previous growth rate will not be sustained.Data from the analytics platform Second Measure revealed a decline in consumer willingness to purchase non-essential items like furniture, electronics, and appliances last month. Bank of America's credit card data also reflected a cooling in demand. Barclays economists indicated that, based on a model incorporating disposable income, stock market wealth, inflation, consumer confidence, and credit card spending, the momentum of retail sales in September "may have weakened."