This is not supposed to happen…
Headline retail sales tumbled 0.3% MoM in May, the biggest drop since January 2016 (and all the weather-related malarkey that was blamed on).
Core retail sales also dropped the same…
Retail sales less autos fell 0.3% in May, notably worse than the expectation of a 0.1% rise.
The breakdown show a big tumble in Electronics and appliance stores, along with gasoline prices.
This is the weakest YoY retail sales growth since the election and continues to signal that despite record high stock market indices, all is not at all well in ‘Murica.
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