This page has been archived and commenting is disabled.
June Retail Sales Miss Across The Board, May Revised Higher
Following disappointing retail sales number for both April and May, or two thirds of Q2, there was hope that June would finally be the month retail sales would soar. Alas, that would not be the case, following the release of the latest retail sales data by the Department of Commerce which reported that in June retail sales rose just 0.2%, well below the 0.6% expected and matching the lowest end of the forecast expectations (from 0.2% to 1.1%).
Misses were also reported for retail sales ex-autos (0.4%, Exp. 0.5%) and ex-autos and gas (0.4%, Exp. 0.5%). Perhaps the only saving grace was the upward revision of May data from 0.3% to 0.5% for the headline number and from 0.0% to 0.3% for the ex-autos and gas. If anything, however, today's retail sales increase which was the slowest in 5 months confirms that the trend we warned about in April, namely that the US consumer tapped out in March to fund that month's mad spending spree, and the spending trend has been deteriorating ever since.
There was some good news in today's report which was the retail sales control group, which rose 0.6% compared to estimates of 0.5%, and the May revision of 0.0% to 0.2% means that GDP beancounters will likely end up adding a few basis points to their Q2 GDP estimate even as consumers enter Q3 in the weakest shape they have been since the polar vortex.
The breakdown of retail sales by business was rather paradoxical, because while automakers reported yet another surge in June car sales, retail sales for the category per the Dept of Commerce showed a -0.3% decline. The other big drop? Building materials and garden equipment supply dealers which slid -1.0%. Hardly a positive for that other key component to US GDP - housing.
- 11373 reads
- Printer-friendly version
- Send to friend
- advertisements -




WoooHooo!!!! its a Recovery? right? it is right?
It's all bout the weather forecasts. You see, if the forecasts were more accurate, everybody would ave more confidence to buy the right things for weather changing, because it changes so unpredictably. So we gotta expand the weather bureau. It's all about cow farts. And raising you taxes, Bitchez, because Obamacare is stimulative.
So what will be the excuse when the Q2 GDP print is negative, sunshine?
Inflation not high enough for FED, must increase printing.
Can't do that, it right before an election.
My balls are chilly. Is that GDP positive?
more illegals, more ebt, more student loans, more subprime car loan, more part time jobs, more please.
Print, print, print. Eventually crash the dollar and use SDRs. Seems to be the plan.
Ha! In the new normal of Central Bank manipulating every market what difference does retail sales make?
Kramer : It's just an adjustment for them .
Jerry : How is it an adjustment ?
Kramer : They just adjust it .
Jerry : Adjust it off what ?
Kramer : Jerry all these big companies they adjust everything
Jerry : You don't even know what an adjustment is .
Kramer : Do you ?
Jerry : No . I don't .
Kramer : But they do and they are the ones doing the adjusting .
Jerry : I wish I just had the last twenty seconds of my life back .
a couple years ago I snapped this pic off my TV one day when Kramer was on. I had to rewind and pause my TV because I couldn't believe what I was seeing. For one...look at the pics he had on his desk in the back ground behind him...
Yes...that's Mao and Lennin.
Then look at the pose Kramer was making compared to the Lennin pic. It was spooky how much like the Lennin picture Kramer looked at that moment.
https://twitter.com/ArgentusMaximus/status/467069127891636225/photo/1
Still don't get why he had those pictures on his set...a tribute to his favorite mass murderers and communist mentors, maybe???
TV and Hollywood are for idiots who like being viewing sheep for the elites. Keep watching because your viewership ensures you are a little slave.
Or as an educational tool so you can spot bullshit from 50 paces...
well...FYI...I wasn't "watching" and I don't watch that shit ever. I just happened to be flipping through channels and spotted that and had to at least get a pic of that fucking idiot looking like Lennin with his commie pics on his desk.
The effect of lower interest rates seems to be on the wane. Much of the economic landscape is beginning to look like something out of "Alice And The Looking Glass" A bizarre and unrecognizable land, a land that is distorted and papered over by ream after ream of paper.
This paper has been rolling off the printing presses of central banks all across the world in an attempt to mask reality. Peter Schiff says, printing money is to the economy what taking drugs is to a drug addict. In the short term it makes the economy feel good, but in the long run it is much worse off. What was once the "long run" or "distant future" may be getting much closer. More on this in the article below.
http://brucewilds.blogspot.com/2013/01/what-happens-after-momentum-ends_...
You said ream, which is what is happening to the middle class on a daily basis.
Bloomberg headline on TOP: "U.S. Retail Sales Showed Broad-Based Increase Last Month After May's Gains"
sigh
LOL
fuckin Bloomie...and his gun up his asshole...and his minions spewing nonsense....and the dumbed down....BELIEVING IT....
BUY BUY BUY BUY BUY BUY...motherfuckers
The only things selling well now are hand guns, ammo, lotto scratch-off tickets, diapers for illegal aliens and "Going Out of Business" & "Office Space Available" signs.
Also Cheetos, Pop-Tarts, and Kool-Aid, with a perfect correlation to EBT growth.
and skittles...
"Will work for skittles" signs are really flying off the shelves.
You forgot to mention water cannons, batons and tear gas cannisters.
Bought any hollowpoints lately?
Jeez, talk about demand/supply.
I prefer soft points myself...
Look at the non "seasonal adjusted" data between May and June. Virtually every department dropped about 5%. How do they get away with this shit. Total BS
June 438,468 may 464,425What seasonal adjustments need there be between May and June for retail? Makes no sense.
Comparisons to same month last year would always be much more accurate than this seasonal adjustment business.
The way the weekends fall would be a slight variation, but the numbers would always be actual, and we could then decide for ourselves whether or not the difference was significant.
Here, they decide what is significant and what they "think" the number should have been.
Index the BS retail sales number with inflation (even the bogus CPI print) and it's a wash at best; indexed against a real inflation number and you learn that any retail sales 'increase' is due solely to accounting firms purchasing large lots of red ink printer cartidges.
somehow millions of un educated low IQ illegals will help the economy..well jails are in a boom market so there's that.
Aren't they the Nw World Order's Uselesss Eaters, or am I missing the gist of the program?
If you can't tell the sucker at the poker table..........
People are really looking at what they need as opposed to what they want.
Time for new "i" gadget to be marketed to the masses! Stat!
That's a lot of news posts this morning. And all of it meaningless
We need to move the start of school to the middle of July...get those sales pulled forward.
I went into Costco yesterday, finally ready to buy some summer stuff, since we are in the third week of it....
I'll be dammned if it had all been replaced by leather sofas and other furniture.
Ready to get a few more summer shirts, and damn, the winter stuff was there in it's place too.
I guess I can put those things off another year....I did fine so far without them.
Staples and Office Depot have been doing "Back to School" sales right after July 4th for the last several years. If you need to stock up on office supplies, check their ads during this month. You can find great bargains in July.
I'm doing my part, bought two new shirts because I'm losing weight, I'm eating less.
Gold Bitchez...Gold
Summer shirts are always in stock at St. Vincent Depaul.
I can't wait for August to get here, so I can start buying Christmas ornaments again!!!
It's because of global warming
Tonight in the Atlanta suburbs we will be in the upper 50's....
I know of not one person who isn't laughing at those global warming preachers.
Did you see this one? Red Heads to disappear due to global warming....
http://www.dailyrecord.co.uk/news/scottish-news/climate-change-could-mak...
Q2 +3.2 GDP
Signed,
The Vampire Squid
Anything to squeeze out a positive H1. The revisions will force it back into the red, but by that time it will all be in the past.
BULLSHIT BITCHEZ!!!!!
I MEAN....GREEN FUCKIN SHOOTS.....GREEN FUCKIN FIAT.....GREEN FUCKIN LIGHT....
BUY BUY BUY BUY BUY.....KEEP RAMPING THIS PIG...
Okay, who forgot to put "Unexpectedly" in the story? i thought that was in the style book as mandatory for news like this... %-)
Oil prices are falling because of the ROARING economy.
Toilet paper, toothpaste, soap, shampoo, tampons, underwear, chips and soda on sale, paper and pencils for school
Retail sales.
Well it is Tuesday ...
Who needs an economy? Who needs jobs? Who needs reality? We have PRINTED prosperity now!
But there will be a day of reckoning. The stench of hubris of central bankers is so appalling that only a calamity of biblical proportions will wake them -- or the sheeple -- up from their apathy!
Check out the propaganda.
http://www.reuters.com/article/2014/07/15/us-usa-economy-idUSKBN0FK1JE20...