Real consumption is expected to post another quarter of solid performance, with growth hitting around 2.4% in Q4. What's driving this? Core retail sales remain resilient—consumers keep spending despite economic headwinds. The softer inflation backdrop helps too, giving households more purchasing power and breathing room. When inflation eases and retail holds up this well, it typically signals economic stability and steady demand. This kind of macro environment shapes how institutional players and retail participants approach risk assets and portfolio allocation strategies.