Retail Sales Slammed 3rd Month In A Row
by Dave Kranzler, Investment Research Dynamics
The Commerce department reported that in February, retail sales missed once again and missed big and across the board, the third big miss in a row, with the headline print coming at -0.6%, far below the 0.3% expected. – Zerohedge
The worst three-month run since the Great Financial Crisis in 2008. Anyone happen to notice that most of the economic data has been collapsing at the same rate as they collapsed in 2008/2009? Almost every data series, whether it is coming from the Government or private sector reporting agencies.
Even ex-autos and gas – and auto sales are starting to crumble as the subprime magic wand is losing its power – retail sales dropped .2%, well below the +.3% expected by Wall Street’s finest crystal ball readers.
The average consumer once-again has become overleveraged. Furthermore, nominal wages for the 80% demographic continue to decline (click to enlarge, source: zerohedge, edits are mine):
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