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Ankura Monthly Economic Indicators Overview [May 2023]

Consumer debt reached a new high in Q1 – passing $17 trillion for the first time ever. Consumer sentiment took a nosedive in May, dropping over 9% MTM, hitting its worst level since the historic low last June; consumers are worried about the economy amid a rash of negative news – especially concerning the standoff regarding the debt crisis standoff. 

April retail sales increased just 4.3% (well below core inflation rate of 5.5%), and most key retail segments experienced YOY sales. 

Even with good news on the inflation front – retail gas prices continue to decline, down 18% YOY to $3.64 – the current economic environment and low consumer sentiment is impacting how much consumers are willing to spend on non-essentials; retailers will need to sharpen their promotional focus, optimize inventory allocation, and closely manage expenses in the months ahead.

© Copyright 2023. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.


economics & statistics, report, retail, performance improvement

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