Wednesday, January 14, 2015

Retail sales and screaming like a fruitcake

Retail sales came in OMG DOWN 0.9%! The clowns at CNBC were screaming like fruitcakes this morning.

So here's your real analysis;

Calculated Risk - retail sales numbers. Quote:
On a monthly basis, retail sales decreased 0.9% from November to December (seasonally adjusted), and sales were up 3.2% from December 2013. Sales in November were revised down from an increase of +0.7% to +0.4%.
So yoy still sees growth.

And what about ex-gasoline?
Retail and Food service sales ex-gasoline increased by 5.5% on a YoY basis (3.2% for all retail sales).
So quit freaking out like a little fruitcake, Liesman.

US market will probably still tank for a while, cos that's what it seems it wants to do right now.

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