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Retail Sales Come In Line With Expectations, Rise 1.1% In February
Following several months of retail sales misses, the market was hoping for blow out data- after all consumers have been largely releveraging. What it got was a normal that was in line with expectations at the seasonally adjusted headline level (+1.1%), following an upward revised 0.6% increase in January (0.4% before), and a stripped number ex autos and sales of +0.6%, on expectations of +0.5%. The latter was revised as a decline from the previous 0.6% which was in turn hiked up to 1.0%. Motor vehicle sales, courtesy of the already noted soaring channel stuffing by Government Motors, rose 1.6% in February sequentially. Gasoline stations saw a 3.3% jump sequentially, and 10.3% compared to last year. This even as demand for gas has plunged to all time lows: maybe it has something to do with price. At least people are still eating (+0.8%), and are clothed (+1.8%) even if they are shopping less at General Merchandise Stores (-0.1%) and have less furniture (-1.2%). According to Bloomberg economist Rich Yamarone, the report reflects "broad-based strength," may show "commodity inflation, with building materials sales up 1.4% and gasoline stations up 3.3%." And BBG's Joe Brusuelas adds: "Two-thirds of growth in retail sales due to rising gasoline & auto sales. Gen merch declines 0.1%, due to subs effects caused by inflation." Thank you inflation - may we have another.
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SP= DEATH BY A HUNDEREAD POINTS. It aint easy being a bear.
Buy a lot of gold.....on margin
Boy is it me or does that number seasonally adjust to -8.4 if we apply John Williams Inflation calculation.
Much more understandable a result as we have Triplet abortions of the US, EU and Chinese economies.
The market may resume it's climb now...
It's just algo's pinging against each other now. There is no human element to the market anymore. If it even tries to creep in it gets pushed out quickly. Should be a nice smooth ride up to 20k.
The American consumer will never learn.
Dr. Engali
Why should the American consumer learn?
Where ignorance is bliss tis folly to be wise.
Retail Sales Come In Line With Expectations, Rise 1.1% In February
There were 29 goddamned days this February... (one more than 28)...
That's a 1.035714285714285714285 "bonus" in days (unless they were comparing it to all other leap year Februarys)
according to the chart, the 1.1% rise was over Jan 2012.
Your point is applicable to their 6% claimed increase over Feb 2011.
Hey, it's tax refund time and thanks to all the wonderfull new minimum wage jobs a few million people just found out they can qualify for a $5000 EIC. Imaging the surprise when a guy making $14k finds out he's getting a huge bonus straight from the federal government!!!
Taking into account all the federal and state programs someone working minimum wage actually has more disposable income than someone making $50k. After all the minimum wage earner is probably still living in a really nice home and hasn't made a mortgage payment in three years.
I'm sure that is a fun and warm and fuzzy assumption for you to make, but every minimum wage person I personally know, which is a double handful in our rural area, is either:
a. Living with relatives or friends who are also minimum wagers, or very close to it
b. Renting
Most of them are too young to have ever bought a home.
Do you actually know anyone personally that has a minimum wage job?
Hint: It really, really sucks, especially at the gas station here because there is essentiallly no public transportation.
Algo daily headline program extraction goal reached....winning.
woq, qe is definitely gone by the wind, but it's good for the shares, right.
http://www.cnhedge.com/
Go fuck a panda, Guo Tao. You're just another pathetic spammer.
TheFourthStooge-ing
Is it even possible to fuck a Panda?
I recall one of those big cat rescuers got conned into a discussion about having sex with a big cat and he said it would be very hard.
Yeah you read all the time, usually from FLA, about some guy caught fucking his dog but never fucking his cat.
I have yet to uncover a "man caught fucking bear" story. Dolphins sure, but Bears and Cats never.
Dude... Nationalgeographic.com is what your looking for. Not Zerohedge...
The intrepid Brit hunter gets captured by headhunters and is told he can be killed by bunga (no, not Berlusconi) or join the tribe via their rite of passage, involving drinking a large container of fermented umbwebwe juice, pulling the bad tooth out of an obviously angry tiger, and pleasing the tribe's queen (no small feat for a white boy). He chooses the latter, downing the umbwebwe with a 200-proof cough at their distillation skills, he decides to take on the third challenge before the second, but instead tumbles into the pit with the tiger. Screams and growls both emanate from the pit until a silence falls and the Brit's hand comes over the top of the rim as he says, "okay....where's that lady with the bad tooth?"
thank you for the reminder
personally, as long as he uses the box at the bottom of the page routinely, he's tyler's problem, not mine
again, thanks for the heads-up, b/c he's quite active here, or his secretary his kid, or whoever he has take care of the minor details like advertiZing on zH...
wait, is it just my imagination or does this chart show pretty much the entire retail sector slowing down?
Gee, ya think, Rich????
One of my favorite pass times these days is watching Berstank's BNO missle ramping straight up BHO's ass. Keep pumping Ben! It's as close to tranny porn as I care to watch though.
Well, he could choose to not pump and watch a deflationary spiral take down the eCONomy. Both heads and tails are losing propositions. But by all means, turn it into political sport, the oligarchs like it that way.
Actually it would be just as much fun for me watching Benny boy stick it up Bush or Romney's or any over puppet stooge's ass they dangle before the American consumer audience. Right now the puppet stooge is Oblahblah so I say hit it Ben.
It is amazing how anything consumer spending related keeps getting revised up, yet unemployment reports keep getting revised worse everytime. It's almost like the entities putting out the data keep trying to make the economy look better than it is.
So better numbers can't be blamed on the weather right? Only bad numbers can. How much of a factor was the warm weather in the seasonal adjustment? How much in terms of sales were pulled forward because of better weather? People don't like to buy Spring stuff in the middle of a snowstorm. Also much of the February strength could be due to the massive clearances on winter merchandise that never sold because nobody needed it. Snowblowers and shovels had the best deals in years. Selling large quantities of merchandise to international discount wholesalers still counts as a sale right?
Oh Wall Street, how gullible you are that mere estimates and rumors are all you need to shoot for the moon. In reality your rocket ship has a massive fuel leak and will probably blow up shortly after launch, but it will be a spectacular show.
And yet again the mainstream including Fox are reporting this as good news, and as usual the oil price spikes on the false speculation of a growing economy and I continue to LMAO
Oh sure, retail sales sucked balls in Dec and Jan, supposedly the 2 biggest retail sales months....however picked up in Feb.
Well, pardon me for calling BS and not giving a shit. Go and run away with the markets Maniacal Monetizers its all yours!
Hey man...we're really sorry but that was all the bounce the dead cat had in her...
Well the only jobs to be had are retail ones so the employees just walk around the mall on their breaks and buy stuff from other retailers. Economy fixed
Any increase in retail is due to blow-out pricing everywhere. There is so much "50% off" shit out there that it's scary. Margin numbers later on will tell the tale.
Restaurants/alcohol up 0.8%.....fitting, considering that how bad the economy that 80% of us live in is so shitty, that it would drive even the most chaste man to the bottle.
I'm bullish on alcoholism
Fantastic Sam's buzz cut went from $10 to $12. I was like "WHoa" and she was all like "Yeah we had to raise prices" and I'm like, "I know it's on $2 but you know that's a 20% increase right?"
Get your Groupon!
"I'm bullish on alcoholism"
I'll drink to that.
"
US retail sales recorded their largest gain in five months even as they paid more for gasoline, government data showed on Tuesday." - from CNBC
Who the hell are "they." in this headline.
Anyhow the paradox is spreading fast.
Home prices down; Rents Up
Food and Energy up; Retail sales up
Employment up; tax receipts down.
And on and on.
Government data is the basis behind the paradox.
The government is there to protect you.
I wonder what these numbers would be if you adjusted for inflation?
Reflecting the fact that two-months of belt-tightening means an eventual trip to the store, just like pulling demand forward means a valley later.
Is that second column Feb (r) the seasonally adjusted number and that's why it's 5x the Jan (p)?
we we weeeeeeeeeeee........