Core Retail Sales Tumble Most Since January

Friday, August 12, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Aug 12, 2016

Despite this week’s Macy’s-driven retail sales exuberance – following BofA’s suggestion that all was not well – the official retail sales print shows July was ugly… Retail Sales (ex Autos/Gas) fell 0.1% MoM (missing expectations of +0.3%) to the weakest since January. The headline data was flat MoM (dramatically missing the +0.4% expectations). The drop was driven by weakness in gas station and sporting goods sales (along with department stores… apart from Macy’s?). Perhaps most worrying hjowever is the mere 2.3% YoY growth in headline retail sales – a level that has signaled recessionary conditions in the past.

The Rest…HERE

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