Casual Dining Consumer Spending Continues To Collapse In September

According to proprietary data collected from Bank of America Merrill Lynch’s customers, consumer spending continued to support the US economy during September. According to the bank retail sales, ex-autos increased 0.4% month-on-month seasonally adjusted in September. Year-on-year retail sales ex-autos are 1.9% according to Bank of America aggregated card data, in line with the Census Bureau data. Beyond retail sales ex-autos, spending is up 4% year-on-year including overall services spending and auto unit sales.

• GS: Will Consumer Spending Ever Recover?
• U.S. Consumer Spending – Can They Continue To Hold Up The World?
• Durable Goods Orders, Consumer Spending Both Bright Areas Among Mixed Signals

One industry that is not benefiting from rising consumer spending...