Retails sales (MoM) released today for the US reversed last month's 0.3% decline with a 0.3% increase, mainly due to vehicle purchases and high gas prices.
That being said, if you keep reading the report, sales for all the following consumer CYCLICALS are down significantly: clothing, restaurants and bars, electronics and appliances and furniture.
On top of that YoY retail sales and Redbook index is actually declining.
To be honest I'm not sure what to think anymore. Usually, this would be short on the economy and subsequently the markets, but QE and investor bullish sentiment is a beast.
Link to MoM Retail sales: tradingeconomics.com...-states/retail-sales
Link to YoY Retail sales: tradingeconomics.com.../retail-sales-annual
Link to Redbook index: tradingeconomics.com...states/redbook-index
That being said, if you keep reading the report, sales for all the following consumer CYCLICALS are down significantly: clothing, restaurants and bars, electronics and appliances and furniture.
On top of that YoY retail sales and Redbook index is actually declining.
To be honest I'm not sure what to think anymore. Usually, this would be short on the economy and subsequently the markets, but QE and investor bullish sentiment is a beast.
Link to MoM Retail sales: tradingeconomics.com...-states/retail-sales
Link to YoY Retail sales: tradingeconomics.com.../retail-sales-annual
Link to Redbook index: tradingeconomics.com...states/redbook-index