7 Sept 2022 US Monitor Consumers' Spending is Responding to the Plunge in Gasoline Prices

Ian Shepherdson (Chief Economist and Founder)6th Sep 2022 15:23U.S., Daily Monitor

Consumers’ discretionary spending is reviving in the wake of the plunge in gas prices.
The ISM and PMI services indexes are headed in opposite directions; one of them is wrong.
The July trade data will confirm that the deficit is falling fast; trade will be a big plus for Q3 GDP growth.

core goods deficit energy gas prices gasoline gdp forecasts general merchandise home sales inventories ism July labor labor day national accounts October oil payroll payrolls pmi pmi services private payrolls q3 q3 gdp real estate real wage salary income September services index spending growth summer trade trade data trade deficit winter

This publication is only available to U.S. Economic Research (Monitor) subscribers

Related Publications

UK Datanote: U.K. S&P Global/CIPS Services Survey, September 2022

UK Datanote: U.K. Car Registrations, September 2022

Global Datanote: Final PMIs, Eurozone, September 2022.

Are you taking full advantage of our daily publications?

Pantheon Macroeconomics produce daily publications for U.S., Eurozone, Latin America, UK and Asia, as well as analysis on key data within a few minutes of their release.