There seems to be A LOT of money sloshing around.
From Yahoo Finance, August 15:
July retail sales surpassed Wall Street estimates in the latest sign that a resilient US consumer continues to surprise to the upside.
Retail sales rose 0.7% in July from the previous month, more than Wall Street's estimates for 0.4% growth. Sales excluding auto and gas increased 1.0%,well above estimates for 0.3% compiled by Bloomberg. Meanwhile, June sales were revised up to 0.3% from 0.2%.
The report, released by the Commerce Department, offers a snapshot of consumer spending at a time when economic data has been coming in stronger than expected and has economists pushing back or eliminating their recession calls. Spending in the Commerce Departments's control group, which feeds directly into the Gross Domestic Product (GDP) report, increased 1.0% in July. Economists had been expected just a 0.5% rise.
Nine of the 13 categories highlighted in the release saw increases from a month ago. Nonstore retailers, which includes e-commerce, increased 1.9% from June. In July, which included Amazon (AMZN) Prime Day and major online sales at other retailers such as Target (TGT), nonstore retailers saw sales rise 10.3% from a year prior. Meanwhile, sales in sporting goods and hobbies rose 1.5% from June, while food services and drinking places gained 1.4% compared to June....
....MUCH MORE
