• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

No Unharsh Weather Rebound: Retail Sales Miss Across The Board

Tyler Durden's picture


Having been revised up to a 1.5% growth for March (the most since March 2010), retail sales crumbled across the board in April as the promise of un-harsh weather rebounds evaporated into the reality of a one-off pent-up demand pop. All sub-series of retail sales missed expectations with Ex-Auto/Gas actually dropping 0.1%. The broad weakness was led by furniture (-0.6%) and electronics stores (-2.3%).

The broadest measure of retail sales missed...


and ex-autos/gas saw a drop of 0.1% and its 2nd biggest miss in over a year...


The breakdown: after sliding 1.6% in March, electronics and appliances stores tumbled -2.3% in April. Adding insult to housing contraction injury, furniture and home furnishings stores saw a -0.6% drop in April also, while miscellaneous store sales tumbled by 2.3%.


As for the retail sales control group, yup: that is a negative print from March.

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Tue, 05/13/2014 - 08:40 | 4754082 papaswamp
papaswamp's picture

All's well bitchez! Rally on!

Tue, 05/13/2014 - 08:41 | 4754085 spine001
spine001's picture

Has the rumor aboit more QE started yet?

Tue, 05/13/2014 - 08:42 | 4754093 PartysOver
PartysOver's picture

Bullish.  At least until it pukes.

Tue, 05/13/2014 - 08:44 | 4754102 Headbanger
Headbanger's picture



Tue, 05/13/2014 - 08:47 | 4754121 SoilMyselfRotten
SoilMyselfRotten's picture

Well, it did rain a few days in April, sooo.....

Tue, 05/13/2014 - 09:03 | 4754140 knukles
knukles's picture

It got pretty chilly out here the other morning.  And Antarctica was cold.


wait a fucking minute... March was revised upwards when it was supposed to be negatively impacted by the weather ...  thats where the whole fucking propaganda meme comes from, so if it was OK and now its weak, the whole fucking thing not only falls apart, but oh neverthefuckmindanymorethisissoooooooooofuckedup

if mrstompyfeet is happy, you're happy, peasant

Tue, 05/13/2014 - 09:26 | 4754277 sodbuster
sodbuster's picture

None of this shit matters. Fraud Street is rigged.

Tue, 05/13/2014 - 09:31 | 4754292 Flux
Flux's picture

Ok, folks, let me spell it out for you:

The stories are just stories. They are to amuse and entertain, or perhaps give some feeling of stability in your lives. There is no connection between the subject and the object. They just look good together:

  • Stocks soared because of the weather.
  • Stocks plummeted because of QE.

You can mix and match them to your hearts content, and they still sound good:

  • Stocks soared because of QE.
  • Stocks plummeted because of the weather.

So, really guys, appreciate the narrative for what it is. It's a lovely bit of poetry, and you should all appreciate it in that context. Or to put it more directly:

This is entertainment, I seriously hope to god no one is using any of this to form their worldview.



Tue, 05/13/2014 - 10:50 | 4754739 Never One Roach
Never One Roach's picture

"Summer of Recovery...."

Tue, 05/13/2014 - 13:59 | 4755720 SDShack
SDShack's picture

That would be Recovery Summer, 2.0, 3.0, 4.0, 5.0... now 6.0.

Tue, 05/13/2014 - 08:56 | 4754159 Bangin7GramRocks
Bangin7GramRocks's picture

If she were to reverse course and double QE, would the market have it's greatest one day rise in history? The robots and soulless assholes who trade stocks would fucking freak out and not even worry about the eventual ramifications. Would be a sad sight to behold.

Tue, 05/13/2014 - 09:09 | 4754214 papaswamp
papaswamp's picture

Weather was too nice everyone went to the beach or took out student loans.

Tue, 05/13/2014 - 09:50 | 4754405 spanish inquisition
spanish inquisition's picture

I was out planting my Fed low inflation target mission accomplished garden.

Tue, 05/13/2014 - 08:41 | 4754086 TeamDepends
TeamDepends's picture

Dude, that was like two months ago.

Tue, 05/13/2014 - 08:49 | 4754129 Richardk888
Richardk888's picture

Listening to talk radio on the way to work this morning and hearng about the new highs set yesterday by the markets and how we have a big week of economic news coming in including these numbers and how wonderful everything is economically...makes me want to fucking vomit!!!!

Tue, 05/13/2014 - 08:59 | 4754142 Dr. Engali
Dr. Engali's picture

No matter how much they try to brainwash us, it won't work.



There are four lights!



Tue, 05/13/2014 - 09:29 | 4754290 sodbuster
sodbuster's picture

Yep- sometimes you feel a lot better after a good barf- just like taking a dump.

Tue, 05/13/2014 - 09:16 | 4754232 therearetoomany...
therearetoomanyidiots's picture

Lemme guess, all on FoxNews Radio outlets- the 1 minute blurbs they have between all the commercials at the top and 'bottom' of every hour?.  

Tue, 05/13/2014 - 09:55 | 4754441 Winston of Oceania
Winston of Oceania's picture

No different than any of the rest so why would you mention just them?

Tue, 05/13/2014 - 10:31 | 4754629 Overfed
Overfed's picture

Yup. And usually followed with a "If you see something, say something" PSA from the Gestapo.

Tue, 05/13/2014 - 08:43 | 4754083 spine001
spine001's picture

More QE! More QE! More QE! More QE! More QE! More QE! More QE! More QE! More QE! More QE! More QE! More QE!

Tue, 05/13/2014 - 08:58 | 4754117 Headbanger
Headbanger's picture

No. It says QE is a complete fucking stupid idea and a failure.

So now it's time for the banksters to quietly leave for the Hamptons and say thanks for all the cash you muppets!


See this one?  Cash is king again:


The partay is over!

Tue, 05/13/2014 - 08:59 | 4754170 101 years and c...
101 years and counting's picture

time for the retarded "economists" to start their slashing of Q2 GDP estimates.

Tue, 05/13/2014 - 09:13 | 4754223 therearetoomany...
therearetoomanyidiots's picture

Nope, we'll just launder the QE through economic powerhouse, Belgium.



Excerpt:  "From November 2013 through January 2014 Belgium with a GDP of $480 billion purchased $141.2 billion of US Treasury bonds. Somehow Belgium came up with enough money to allocate during a 3-month period 29 percent of its annual GDP to the purchase of US Treasury bonds."

The punchline of this a few paragraphs below in that article, is friggin' hillarious!

Tue, 05/13/2014 - 09:32 | 4754302 sodbuster
sodbuster's picture

Headbanger-Look how they ruined that nice paper, by putting ink on it!! Now it's damn near worthless!!!!

Tue, 05/13/2014 - 08:43 | 4754089 Squid Viscous
Squid Viscous's picture

maybe the fear of April tornado outbreaks pulled demand backward into March...

Tue, 05/13/2014 - 09:02 | 4754185 Richardk888
Richardk888's picture

That's right.  It was too fucking sunny outside for people to buy more made in China crap.

Tue, 05/13/2014 - 08:41 | 4754090 youngman
youngman's picture

Thats funny..I bought a whole lot of shit in April

Tue, 05/13/2014 - 08:57 | 4754164 Ignatius
Ignatius's picture

"The broad weakness was led by furniture (-0.6%) and electronics stores (-2.3%)."

It was me.  Found a great sofa combo on craigslist that was unused as the guy suddenly, tragically died at 54.

Paid less than 1/3rd of the price for new.

Tue, 05/13/2014 - 09:06 | 4754198 Snoopy the Economist
Snoopy the Economist's picture

1/3 is great.

Did he die ON the couch?

Tue, 05/13/2014 - 09:11 | 4754220 Winston Churchill
Winston Churchill's picture

In it.
Should get ripe with all this warm weather.

Tue, 05/13/2014 - 09:20 | 4754247 Ignatius
Ignatius's picture

No detectable odors as yet.

It was covered while he was painting the room.

Tue, 05/13/2014 - 08:42 | 4754091 Grande Tetons
Grande Tetons's picture

Coming Soon! 

Summer heat wave keeps consumers at home. 

Tue, 05/13/2014 - 09:01 | 4754178 Ignatius
Ignatius's picture

See, you're much better at writing headlines and have career potential.

My headline: Oligarchic cleptocracy continues to suck life out of consumer economy.

Tue, 05/13/2014 - 09:09 | 4754215 Osmium
Osmium's picture

That would be nice.  45 degrees here right now.

Tue, 05/13/2014 - 14:01 | 4755732 SDShack
SDShack's picture

Summer heat wave, followed by Summer tornados, followed by Fall Hurricanes, followed by Winter Snow, Ice, Sleet, Cold,.... oh the Huge Manatee!

Tue, 05/13/2014 - 08:42 | 4754092 asscannon101
asscannon101's picture

The weather was unseasonably MILD, dammit!! Don't you guys understand the subtle nuance of backward-forecasting?!? FUCK!!

Tue, 05/13/2014 - 08:42 | 4754094 dirtyfiles
dirtyfiles's picture

here ya go bitchez

Tue, 05/13/2014 - 08:43 | 4754095 101 years and c...
101 years and counting's picture

Crumbling retail sales?  theres an app for that.

Tue, 05/13/2014 - 08:43 | 4754096 Yen Cross
Yen Cross's picture

     Those revisions are pretty funny... Slap some lipstick on the pig and hope no one notices how ugly it really is.

Tue, 05/13/2014 - 08:54 | 4754147 knukles
knukles's picture

Sarah Palin is a hot momma!

Tue, 05/13/2014 - 09:04 | 4754193 Bill of Rights
Bill of Rights's picture

No he meant the other swine Hillary

Tue, 05/13/2014 - 08:45 | 4754098 Dr. Engali
Dr. Engali's picture

"The broad weakness was led by furniture (-0.6%) and electronics stores (-2.3%)."

If you can't afford a house you don't need furniture or flatscreen teevees. It's best to buy an iPoop for your cardboard box. 

Tue, 05/13/2014 - 08:59 | 4754172 dobermangang
dobermangang's picture

It's hard to find a good, large cardboard box when nobody is buying anything.

Tue, 05/13/2014 - 09:11 | 4754192 Dr. Engali
Dr. Engali's picture

That's an excellent point. Being broke and homeless in Obamaville sucks even more day by day.

Tue, 05/13/2014 - 08:43 | 4754100 PlusTic
PlusTic's picture

this economy is in RIG-ORMORTIS!

Tue, 05/13/2014 - 08:43 | 4754103 gdogus erectus
gdogus erectus's picture

I love zero hedge more than anyone here but I can't stand the sensational 'crash!' headlines that then show a manipulated data chart with noise on it. WTF.

Tue, 05/13/2014 - 08:48 | 4754123 Dr. Engali
Dr. Engali's picture

I'm sorry, I missed the sensational crash headline. Could you point it out to me please?

Tue, 05/13/2014 - 08:55 | 4754151 knukles
knukles's picture

The Sky is Falling, The Sky is Falling!

Tue, 05/13/2014 - 09:00 | 4754175 Dr. Engali
Dr. Engali's picture

Ah there it is. Thank's knuckles.

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