Americans are spending more at bars and restaurants than grocery stores for the first time in history
In January, Americans spent more at bars and restaurants than at grocery stores.
This chart, which we first saw from economist Mark Perry, shows that in January, spending at bars at restaurants totaled $50,475,000,000 against $50,466,000,000 spent at grocery stores.
Earlier in February, we highlighted this chart, which showed that spending at restaurants and bars rose 11.3% over the prior year, boosted by an increase in consumer confidence as gas prices crashed in the second half of 2014.
A serious sign of strength in discretionary spending from American consumers.