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VodkaPundit

Sign “O” the Times

August 13th, 2014 - 12:12 pm

MoM

Whoops:

Retail sales missed expectations for the 3rd month in a row (after the weather rebound was supposed to kick in?) with an unchanged 0.0% print in July (against expectations of a 0.2% rise). This is dramaticaly off the 1.5% growth rate seen in March. Across the board, retail sales were weak with Ex Auto & Gas up only 0.1% against expectations of a 0.4% gain. Department Store sales fell 0.7% MoM. So much for pent-up demand.

So – let us get this straight – Q1 was a disaster because of the weather (but retail sales surged and beat expectations in every month) and Q2 was the pent-up demand rebound and retail sales missed every month and slipped to six month lows.

Something tells me Q2 robust GDP growth won’t survive the unexpected downward revision.

All Comments   (4)
All Comments   (4)
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This time we'll be told it was because the weather was too good and people were out enjoying themselves instead of at the stores.
9 weeks ago
9 weeks ago Link To Comment
Eh. Downward revisions will always have a lower limit, just as the market will "rebound" just before we're declared to be in another recession. I can't see the Obama administration being honest enough to do anything different.

The ONLY possible reason I can see them NOT toying with the economic numbers is if another World War starts... and give Obama credit, he's certainly doing his damnedest. Then, pursuant to their belief that WWII halted the great depression, they'll be fine admitting it. At that point, depending on where we are vis a vis throwing the bums out, it's up in the air where the economic figures go. Depends on how much Uncle Sam controls, and more crucially, what he chooses to count, and how.
9 weeks ago
9 weeks ago Link To Comment
I'm never surprised that the revised numbers are always downward, but I'm always surprised that the liars who gave us the false numbers ever bother to revise them.
9 weeks ago
9 weeks ago Link To Comment
"Unexpected."
9 weeks ago
9 weeks ago Link To Comment
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