Retail and Consumer Data: A Mixed Bag
This morning, we received the retail sales report from Census Bureau and the Consumer Price Index (CPI) from the Bureau of Labor Statistics. I always like to pair up the CPI report with Retail Sales to get a sense of inflation-adjusted spending, as the Retail Sales report is not adjusted for inflation.
The headline for Retail Sales might seem encouraging at first glance -- up 0.9%, following a 0.6% gain the month before (previously reported as a 0.8% rise). Meanwhile, however, CPI rose by 0.6% for the month, and by 0.1% excluding food and fuel, so price increases flattered the sales figures. And most of the sales increase was in autos and gasoline, along with building materials. But the rest of the data on consumer spending is a mixed bag -- don't be misled by the headline....532 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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