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Economic Update: Retail Sales
Although reports from retailers showed the holiday shopping season to be strong, the reports did not translate into an equally strong showing from the government’s statistics.
The Commerce Department reported that after all the seasonal adjusting, Retail Sales were up just +0.1% in the month of December, which was well below the consensus for +0.4%.
Prior month’s readings for comparison purposes:
- November: +0.4% (revised from +0.2%)
- October: +0.6%
- September: +1.1%
- August: +0.3%
- July: +0.3%
- June: +0.3%
- May: -0.1%
- April: +0.3%
- March: +0.9%
- February: +1.1%
- January: +0.7%
- December: +0.5%
When you strip out the sales of autos, sales were down -0.2%, which was below the consensus for a reading of +0.4% as well as last month’s revised +0.3%.
While everyone knows that gov't stats are sometimes suspect, stock futures have sold off on this morning's data.
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