Popular Posts

Thursday, August 14, 2014

Retail Sales Miss For Third Month In A Row, Worst Print Since January

But the talking heads said that the consumer is back and jobs are soaring? Retail sales missed expectations for the 3rd month in a row (after the weather rebound was supposed to kick in?) with an unchanged 0.0% print in July (against expectations of a 0.2% rise). This is dramaticaly off the 1.5% growth rate seen in March. Across the board, retail sales were weak with Ex Auto & Gas up only 0.1% against expectations of a 0.4% gain. Department Store sales fell 0.7% MoM. So much for pent-up demand.

So - let us get this straight - Q1 was a disaster because of the weather (but retail sales surged and beat expectations in every month) and Q2 was the pent-up demand rebound and retail sales missed every month and slipped to six month lows.

More

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.