Texas Just Sent a Warning Shot to the Rest of the U.S. Economy
Consumer spending in Texas has collapsed, and the data from the Dallas Fed is worse than anyone expected. Retail sales activity fell off a cliff in May, hitting levels not seen since April 2020. Inventories are piling up, work hours are being slashed, and employers are cutting back.
Is this just a Texas problem… or is it the first sign of a nationwide consumer retrenchment?
In this video, we break down the shocking data, why it matters, and how it could ripple across the entire U.S. economy in the months ahead.
If the U.S. consumer breaks, it’s game over.