(Arkansas Business)
Total retail spending in Arkansas increased 2.4% in 2023 compared with 2022, according to economist Michael Pakko.
In the U.S., total retail spending rose 2.6% last year compared with the previous year.
“These growth rates were sharply lower than in the previous two years, and after adjusting for 4.1% CPI [consumer price index] inflation represent negative growth in real consumer spending,” Pakko, chief economist and state economic forecaster at the Arkansas Economic Development Institute at the University of Arkansas at Little Rock, noted earlier this month on his Arkansas Economist blog.
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