U.S. shows Increase in Retail Sales and Credit Card Debt

August 14, 2012 at 4:12 pm

Today, the U.S. Commerce Department released its estimates for retail and food service sales in July.  The estimates show a 0.8% over June sales and a 4.1% increase over the last year.  The graph below shows how retail sales have been increasing since the official end of the recession.

These increased sales have had a direct effect on the market for new and existing restaurant and retailers.  As their are increased sales, small businesses have been able to regain their market.  Demonstrated by the increases in the Restaurant Performance Index as graphed by Calculated Risk, these new numbers actual show a large increase in restaurant performance over the last year.  This shows that the restaurant industry is recovering from the recession.

Also released today, the credit reporting agency TransUnion reports that the average borrower’s credit card debt increased by 6% in the second quarter of 2012.   The numbers released by TransUnion today reinforces a reported increase  in consumer confidence in July, the first in five months.

Together, these number show an increased hope and confidence in the economic recovery.  People are acting on that increased confidence and feeling secure carrying a larger balance on their credit cards.  Overall, there is more confidence in employment opportunities and the short-term economy.

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