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Ankura Monthly Economic Indicators Overview [October 2023]

After a period of recovering consumer sentiment, inflation and concerns over personal finances have started to erode the gains made during the summer months, leading to a decline in the Consumer Sentiment Index since its peak in July 2023. In October alone, consumer sentiment plummeted by more than 7% on a month-to-month (MTM) basis, painting a less optimistic outlook for retailers anticipating robust holiday sales.

September retail sales increased 4%, with MTM sales increasing .6%, exceeding analysts' expectations with strong increases in food services and dining (9.2%), non-store retail (8.4%), and health and personal care (8.3%). However, key hard goods segments continue to show year-over-year (YOY) declines as consumers continue to hold off purchases on durable goods and discretionary purchases.

© 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.


business intelligence, economics & statistics, f-transformation, performance improvement, report, retail, turnaround & restructuring

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