Friday, May 13, 2016

0% Intelligence: The Hardest Landing

Who to trust - government statisticians or what every single retailer this side of Amazon is telling shareholders?

"Following a cascade of dreadful reports from the department store set, which included the worst comparable sales declines that Macy's, Kohl's, Dillard's and Nordstrom have posted since the latest recession, government data showed that retail sales increased a seasonally adjusted 1.3 percent over March"

"The [Government] retail sales report shows that recent claims of the demise of the U.S. consumer have been greatly exaggerated," said Steve Murphy, U.S. economist at Capital Economics.

BBG: May 13, 2016
Consumer Sentiment Jumps To Highest Level In a Year

“Consumers discounted the first quarter GDP report as a misleading indicator"