KQEH Nightly Business Report June 22, 2024
Consumers arent spending as much as expected. Retail sales for june fell a seasonally adjusted 0. 3 , well below expectations of a rise. Because it makes up a good chunk of Economic Activity if that piece of the economic puzzle is missing, some say it throws into question the potential rate hike by the federal reserve. And the batch of bad news comes just one day before fed chair janet yellen is set to appear before congress. Courtney reagan reports. According to the latest government data, consumers arent spending enough to prop up Economic Growth. June retail sales posted the weakest reading...