Tomorrow's Forecast of Consumer Spending (aka) The Future

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According to this week's Bank of America and Merrill Lynch newsletter which forecasts sales for this month, retail sales, being announced tomorrow are expected to be strong, up 0.7%. BOA and Merrill Lynch expect consumers to reduce spending on general merchandise given the soft chain store sales data. Sales at healthcare and food stores should continue to increase, but at a slowing pace. So long story short, we're spending cash on things that are essential. [Bank of America, Merrill Lynch]