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Thread: December retail sales report this morning is a perfect example of markets overreacting in short-term because traders are reading hyped-up Big Media headlines.
Let's put this into proper content. Retail sales fell 1.2% in December.
Follow along.
peoplespunditdaily.com/news/economy/2…
Let's put this into proper content. Retail sales fell 1.2% in December.
Follow along.
peoplespunditdaily.com/news/economy/2…
(Fix Break) For Oct. 2018 - Dec. 2018, total retail sales were up 3.7% (±0.5%) from the same period a year prior. Raw numbers tell an even clearer story.
Put plainly, we didn't know what $500B even looked like. In 2017, reported as a big gains, Dec. was $494.5B & Nov. $491.8B.
Put plainly, we didn't know what $500B even looked like. In 2017, reported as a big gains, Dec. was $494.5B & Nov. $491.8B.
(Fix Break) While the 1.2% decline from November was the biggest monthly decline of the expansion, since September 2009, it is still 2.3% (±0.5%) higher than December 2017, and total retail sales for the 12 months of 2018 were up +5.0% (±1.4%) from 2017.
We had an unusually big October in 2018, which was > $511B vs. $491B in 2017. Now that the market has time to digest that, it leveled off. But I think we have all gotten a little spoiled over the last two years. Retail sales were dying lest we forget, and in Q4 we got above 500B.
