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
Weekly Initial Unemployment Claims at 329,000 - The DOL reports: In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previou...
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