Good point, rookie mistake. Even then, real retail sales increased 7.9% on a Y/Y basis which is faster than China unless China had inflation <0.6% in 2021. Using real retail sales (I"m not sure what deflator this is using), US CAGR of retail sales from July 2019 to July 2021 was still in the ~5.7% range, as fast as China but with a much higher basewow, that's impressive. did you take into account of inflation, running at 5.4% in July?
China's CPI index: July 2020, 102.7 July2021, 101Good point, rookie mistake. Even then, real retail sales increased 7.9% on a Y/Y basis which is faster than China unless China had inflation <0.6% in 2021. Using real retail sales (I"m not sure what deflator this is using), US CAGR of retail sales from July 2019 to July 2021 was still in the ~5.7% range, as fast as China but with a much higher base
No, CA/GDP is negatively correlated with economic growth. Also, please do learn about the sectoral balances identityThe US economy is consumption driven, you need to deduct the trade deficit to get the growth rate.
widening CA deficit contributes to growth? traffic accidents also cause raining.No, CA/GDP is negatively correlated with economic growth. Also, please do learn about the sectoral balances identity
CA deficits come from increased consumption by businesses and households.widening CA deficit contributes to growth? traffic accidents also cause raining.
China has already recovered in Q2, 2020, while the US slumped in Q2 due to covid-19. So China's Q2, 2021 looks normal, while US Q2, 2021 looks better, which is due US economy crumbling in Q2, 2020.United States Retail Sales (2019/2021) CAGR: 9.6%
China Retail Sales (2019/2021) CAGR: 3.6%
The United States is growing substantially faster than China
Which is why I used the 2019 instead of the 2020 baselineChina has already recovered in Q2, 2020, while the US slumped in Q2 due to covid-19. So China's Q2, 2021 looks normal, while US Q2, 2021 looks better, which is due US economy crumbling in Q2, 2020.