April Retail Sales were weaker than expected, falling .4% headline and
.5% ex auto’s vs the consensus of flat and up .2%. Also, March was
revised lower both headline and ex auto’s. Sales ex auto’s and gasoline
fell .3%. Sales fell in furniture, electronics, food/beverages,
department stores, and online. Gains were seen in restaurants/bars,
sporting goods, health/personal care and in building materials. All the
green thumb gardeners out there can count as many shoots as they want
but the US economy still comes down to the activities of the US consumer
and the consumer is still retrenching, paying down debt, saving and
getting their credit lines cut. This is a long term process and with a
still difficult labor market, won’t change anytime soon.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.