The consumer is often said to be the backbone of the U.S. economy, and that looks to be a positive factor for the food and agricultural sectors. The U.S. Census Bureau recently released its monthly advanced estimates of retail and food service sales, which are broadly encouraging from a macroeconomic perspective. The data show broad-based sales increases, largely driven by robust consumer spending. Consumer spending, of course, is nearly always good for the economy, provided it isn’t financed with unreasonable debt/income ratios.  The Census Bureau’s latest data shows widespread sales increases across most industry sectors. Total retail sales in August were up from the prior month and also from the same month in 2018, afte...

TAGS – North America, Macroeconomics