Monthly Consumer Update: US, UK and China

Each month, we round up key metrics reflecting consumer demand in the US, the UK and China. We focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth.

Metrics for April include:

• In the US, wage growth and retail sales growth softened slightly, while gas-price inflation strengthened further.
• In the UK, retail sales growth was weak due to an earlier Easter. Automotive fuel-price inflation accelerated sharply.
• In China, food-price inflation eased significantly, and retail sales growth returned to around 9% year over year.