Nov Retail Sales were below expectations at the headline level, and also taking out auto’s and gasoline. All three rose .2% m/o/m, less than the estimates of +.4-.6%. Sales rose for auto’s, furniture, electronics, clothing, sporting goods, department stores and online retailers but fell at restaurant/bars, building materials, food/beverages and health/personal care. Bottom line, while weaker than expected, the y/o/y gain is still 6.2% ex gasoline station sales and to fully capture the holiday’s, we of course need to see Dec sales too. Either way, while the US economy has hung in pretty well of late, the real test comes in early 2012 as the European recession fully takes hold.
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.