The following chart shows the monthly growth in inflation adjusted retail sales.
Click to enlarge.
You can blame the trend line in red on the hurricane if you like, but blaming the overall slope of the blue trend line on the hurricane will be a lot more difficult.
In any event, the trends are not our friends. If they continue then it is only a matter of time before we're knee-deep in a recession again.
St. Louis Fed: Real Retail and Food Services Sales
Thin Crowds, Subdued Shopping on Black and Blue Friday; Thanksgiving Shopping a Bust - Retailers, especially big-box retailers will be blue if light shopping carries over for the rest of the season. The Wall Street Journal reports Thinner Cro...
1 hour ago