Retail Sales Disappoint In February, Despite Major Downward Revisions
Retail Sales Disappoint In February, Despite Major Downward Revisions
https://www.zerohedge.com/personal-finance/january-us-retail-sales-tumble-most-almost-2-years
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BofA retail sales preview based on real-time card spending data: not pretty https://t.co/avlFVTHDe0
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/1901597809012318238?ref_src=twsrc%5Etfw
Following last month's 0.9% MoM plunge, which was revised down a 1.2% MoM drop, February saw retail sales disappoint (rising just 0.2% MoM vs +0.6% MoM exp)...
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Source: Bloomberg
Food Services & Gas Stations saw the biggest drop in nominal sales...
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Core retail sales met expectations (+0.3% MoM) but also saw downward revisions...
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Source: Bloomberg
On a non-seasonally-adjusted basis, retail sales are actually down YoY...
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Source: Bloomberg
Adjusted roughly for inflation,. real retail sales is basically flat year-over-year...
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Source: Bloomberg
Finally, on the bright side, Retail Sales Control Group - which is used for GDP calculations - surged 1.0% MoM in February (more than double the 0.4% rise expected), after puking a revised lower 1.0% MoM in January...
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Source: Bloomberg
So,while headline sentiment may be weak, this is a solid report for signaling economic growth.
Trump learning from Biden: January revised much lower, means lower base and can beat estimates
— zerohedge (@zerohedge) https://twitter.com/zerohedge/status/1901613563443114004?ref_src=twsrc%5Etfw
https://cms.zerohedge.com/users/tyler-durden
Mon, 03/17/2025 - 08:38