Retail Sales Miss December Expectations For 4th Straight Year

For the fourth year in a row December retail sales numbers (control group) missed expectations. After the shocking 1.4% MoM surge in sales in November, December retail sales growth slowed to just 0.3% MoM.

However, despite the miss, this is the 6th straight month of retail sales growth MoM:

The spike in YoY retail sales appears to be rolling over:

Pretty much every sector saw gains, but still the data missed:

Which is odd considering that the US consumer is now fully tapped out, with personal savings at 10 year lows...

... while credit card borrowings just hit an all time high.


If US retailers can't beat expectations now (with the exception of non-store, i.e., online, retailers of course) when can they?