If you listen to economists, you’d likely get the idea that retail sales are the most important driver of economic growth. It’s quite common to hear economist say something to the effect that over 70 percent of GDP growth stems from consumer spending. Thus, if consumers stop spending, the economy would enter a recession. Ignoring for the moment the debate about whether retail sales is a follower or a leader in wealth creation and economic growth (it’s not, it’s a follower to productivity and investment), here’s a look at the global retail sales landscape since 2007. Global Retail Sales Growth…
The Global Retail Sales Picture Since 2009
Harrison Roger
Roger is an economic adviser and active angel investor. He owns various economics firms. His work allows him a diverse group of clients across the globe, including the United States, Europe, and Asia. He holds a Ph.D. in business economics.