Professor Mark J. Perry's Blog for Economics and Finance
Based on today's Census Bureau report on April retail sales, consumer spending at " Food Services and Drinking Places " (restaurants and bars, see red line) was greater than grocery store sales (blue line) in April for the third straight month, reversing a longstanding pattern of food spending and establishing a new US consumer milestone. As the chart above shows, the spending habits of Americans over the last three months represent the first time in US history that spending on food away from home by Americ
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