Consumers are still consuming

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 16 July 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.

Transcript

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0:59.0	So how's that soft landing looking? More evidence today from the retail economy?
1:07.0	From American public media, this is Marketplace. marketplace.
1:13.0	In Baltimore, I'm Amy Scott in for Kyi Rizdahl.
1:19.0	It's Tuesday, July 16th. Good to have you with us.
1:25.8	Today's lead story is another tale of the remarkable resilience of the American consumer,
1:32.1	the latest retail sales report for June from the Commerce Department says spending
1:37.4	held up better last month than many economists expected.
1:41.2	Overall, retail sales were flat compared to figures for May, which were revised higher.
1:47.2	Dig a little deeper though, and the picture looks even brighter.
1:50.3	Marketplace's Sabree Benashore has that story.
1:53.0	It was the price of soy milk that did it for Ben Lee.
1:56.0	I've been collecting receipts from all these different grocery stores.
	...

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