Early Q2 reports have suggested the US consumer was struggling but other signs are mixed. The International Council of Shopping Centers chain-store sales gauge rose 5.9% y/y in June. Earlier today Jones Redbook also said sales gained 5.9% in the fifth week of June.
Seasonal skews and where weekends fall year-to-year can skew weekly numbers so I’d lean toward what corporates have said but the picture is always murky.
