Economics
David Rosenberg: Here's Why U.S. Consumer Spending Hasn't Gone Gangbusters – Yet
Americans aren't convinced that their oil savings are real
David Rosenberg, chief economist at Gluskin Sheff & Associates.
Ramin Talaie/BloombergThis article is for subscribers only.
After recording no headline growth in April, retail sales in the United States have come in shy of economists’ expectations for five consecutive months.
In light of the decline in oil prices, the failure of the U.S. consumer to use those savings at the pump to spend money on more discretionary items has left many in the field flummoxed.