The Global Retail Sales Picture Since 2009Harrison Roger
If you listen to economists, you’d likely get the idea that retail sales are the most important driver of economic growth. It’s quite common to hear economist say something to the effect that over 70 percent of GDP growth stems from consumer spending. Thus, if consumers stop spending, the economy would enter a recession.
Ignoring for the moment the debate about whether retail sales is a follower or a leader in wealth creation . . .
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