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US Retail Sales Drop Sharply, But Key Spending Measure Solid
Nominal spending across the world's largest economy fell more than expected last month, even as a ke
I quibble the rationale for focusing on the “control group” now. I understand the excluded categories (auto dealers, building-materials retailers, gas stations, office supply stores, mobile homes and tobacco stores) are considered volatile, non-“core”, +/o commodity-driven. But they happen to include big-ticket, tariff-exposed, housing-exposed categories which is where you’d look for canaries in this particular coal mine. If we tut-tut core CPI for excluding food and energy, we can spare at least one tut for the retail control group.
JL – I now dub you King Tut!
How it that control group defined? Rich people? Ones who talk on phone? Obviously pulling normal peoples’ expenses out is an issue! There is a giant non-sequitor here.