Retail Sales Miss May Be Coal Mine Canary For US Recovery
Retail sales, one of the few top-tier economic indicators to stage a "real" V-shaped recovery, missed estimates for August, data out Wednesday showed.
The increase for last month came in at just 0.6%, far below the 1% rise consensus expected. The range was 0.2% to 4.6% from 78 economists.
This appears to be an across the board miss. Ex-autos rose 0.7%, missing estimates and the control group posted a 0.1% decline against expectations for a 0.3% gain.
Note that while monthly change charts ca
Inre additional fiscal stimulus: it’s almost as if congressional Republicans are slow-walking a new package as a way to ensure Trump’s defeat in November.
Or they don’t want to boost the start of Biden’s economy.
They can slow it to a crawl as far as I’m concerned. The sooner Trump is gone the better off the country will be. I posted yesterday that the Democrats are crazy not to hold out for the 2.2 trillion. Any compromise and Trump will take credit for it. The full 2.2 trillion and Pelosi & Schumer have all the talking points.
I notice the YOY retail sales hit expectations at 2.5%. However missed by 0.4% on a monthly basis. Is this just that the respondents cannot do math? or is there something else at work here such as a rounding error?
The comments all suggest the country is going to have a difficult fall and winter, no matter what happens. There will be more suffering.
I tried to give a homeless guy a twenty yesterday and he turned it down. He said he wanted a $200 debit card. His kids looked hungry.