Retail Sales - July 2010
Submitted by Robert Oak on Sat, 08/14/2010 - 09:01
Retail sales increased 0.4% for July 2010. The increase was due to auto sales & parts, up 1.7% for the month, and gas sales, up 2.3% for July.
For the year, retail sales have increased 5.5%.
The below graph is retail sales excluding autos, with minus autos & parts, retail sales increased 0.2%.
The below graph is retail trade sales monthly change, minus food sales.
For the past three months, as an average, retail sales are -0.2% lower than the previous three months.
While the press seems to think this report is some god awful news, retail sales did turn positive in comparison to last month's report.
- 3507 reads
retail sales released yesterday
and I personally didn't think it was that important, so I didn't pull up the graphs and post.
But the press sure seems to think this report is some news we didn't expect and why I sure don't know, retail sales have shown weakness for months now and the PCE also was adjusted down.
Anyway, that's why I posted it, so you could get a data reality check.
It seems every day the financial press picks some topic, almost like a roulette wheel to "explain" the movements in the market.
Anyone else believe for the most part, the stock market price fluctuations are divorced from main street economic reality?