Consumer sentiment takes a tumble

Consumer spending fell in early August, according to preliminary results from the University of Michigan’s survey. July retail sales were down, and the average price of gas is nearing a record high for August. In today’s episode, we look at how consumers could be cutting discretionary spending as a result. Also, we’ll look at why China’s economy may be in trouble, the value of GDP as a statistic, fake business registrations in Colorado, Reddit joining the S&P 500, and the global plastics industry. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show.