Oof! Post-holiday US retail sales slump in January!
⛔️#Retail sales -0.9%
⛔️Adj for inflation -0.8%
⛔️Core -1.3%
⛔️Adj for infl -1.2%
⛽️Gas 0.9%
👩🍳Rest/bar 0.9%
🛒Groc -0.1%
⚕️Health -0.3%
🎮Elec -0.7%
👗Cloth -1.2%
🏠Build mat -1.3%
🛋️Furn -1.7%
💻Online -1.9%
🚗Auto -2.8%
⚽️Sport -4.6%
⛔️#Retail sales -0.9%
⛔️Adj for inflation -0.8%
⛔️Core -1.3%
⛔️Adj for infl -1.2%
⛽️Gas 0.9%
👩🍳Rest/bar 0.9%
🛒Groc -0.1%
⚕️Health -0.3%
🎮Elec -0.7%
👗Cloth -1.2%
🏠Build mat -1.3%
🛋️Furn -1.7%
💻Online -1.9%
🚗Auto -2.8%
⚽️Sport -4.6%
Comments
⛔️#Retail sales -1.3%
⛔️Core -1.2%
👩🍳Rest/bar 0.6%
👗Cloth 0.2%
⚕️Health 0.2%
🎮Elect -0.1%
🛒Food -0.6%
⛽️Gas -0.8%
🛋️Furn -1.6%
💻Online -1.9%
🏠Build mat -2.0%
🚗Auto -3.7%
⚽️Sport -6.1%
Consumer bifurcation is evident with low- to median-income families with little to no savings, rising debt burdens, & difficulties dealing with high prices & rates
Hopefully this is only a breather after robust holiday sales: +3.9% y/y
✅#Retail sales +4.2% y/y in January
✅Core retail sales +3.7% y/y
*But* the momentum in volumes is more subdued
🟡Inflation-adjusted retail sales +1.2% y/y
🟡Inflation-adjusted core sales only +0.4% y/y
I'm very confused