Retail Sales Slide, Miss: Biggest Drop And Miss In 12 Months!!! Building Material Sales Were A Major Drag!!! Goldman Joins JPM In Cutting Q2 GDP To 1% Stall Speed!!!
July 15th, 2013
Retail Sales Slide, Miss: Biggest Drop And Miss In 12 Months
If the worst retail sales number in 12 months doesn’t send the S&P to 1,700 nothing will. Because that is precisely the data point we got moments ago when the Census bureau reported June retail sales growth of 0.4%, missing expectations of a 0.8% print and down from a downward revised 0.5%. However, the only growth in the headline number was thanks to auto and gas sales. Ex autos retail sales were unchanged on expectations of a 0.5% increase, while ex autos and gas the print was down -0.1%, crushing hopes of a +0.4% increase. Any minute now, however, the Fed’s S&P500 trickle down wil, with a 4 year delay, hit the end consumer: the entire Princeton economics department pinky swears.