Marketplace examines signals of an economic cooldown: preliminary University of Michigan survey results showing consumer spending fell in early August, a drop in July retail sales, and gasoline prices nearing a record high for this time of year. The episode explores where consumers may be cutting discretionary spending. Other segments cover turbulence in China's economy, the enduring role of GDP as a metric despite its limits, a wave of fraudulent business registrations in Colorado, Reddit's addition to the S&P 500, and how Middle East conflict is affecting the global plastics industry.
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Highlights
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The enduring dominance of GDP as a metric
Marketplace explores why GDP remains the go-to measure of economic health despite longstanding criticisms that it ignores wellbeing, unpaid labor, and environmental costs.
Preliminary University of Michigan survey data shows consumer spending fell in early August, July retail sales were down, and gas prices are near an August record, suggesting households are pulling back on discretionary purchases.
Colorado is seeing a wave of fraudulent business filings — people receiving mail for companies they never registered — raising questions about how easy it is to exploit state registration systems.