Casual Dining Consumer Spending Continues To Collapse In SeptemberRupert Hargreaves
According to proprietary data collected from Bank of America Merrill Lynch’s customers, consumer spending continued to support the US economy during September. According to the bank retail sales, ex-autos increased 0.4% month-on-month seasonally adjusted in September. Year-on-year retail sales ex-autos are 1.9% according to Bank of America aggregated card data, in line with the Census Bureau data. Beyond retail sales ex-autos, spending is up 4% year-on-year including overall services spending and auto unit sales.