Wal-Mart CEO Doug McMillon told CNBC on Wednesday the U.S. economy does not seem to be picking up that much stream.
"This 2 percent to 3 percent growth range number just feels like it's kind of perpetual," he said on "Squawk Box" from the Business Roundtable meeting in Washington, D.C. "We're kind of like we were last year year. And as I look ahead to next year, it feels like more of the same."
Lower gasoline prices are helping retailers and Wal-Mart in particular, McMillon said, but he noted consumers are facing headwinds, too. "They've got a health-care bill to pay. They need to pay down some debt."
Many Americans are trying to stretch their finances to the next pay check, he added. "We still see the pay cycle play out where the first of the month demand goes up and our sales are better."
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