Folks, you know I’m no cheerleader for the market. I don’t have any vested interested to hold a certain opinion either.
The way I see the Advanced Retail Sales number that was just released this morning is that it’s not bad, provided it’s true and not revised down.
I explained why Retail sales are such an important barometer to watch on the health of the economy here: The Harbinger: The Sector That Holds the Future of the U.S. Economy
The Advance Retail Sales Report released this morning shows that sales in August were 0.2% month-over-month. That’s not bad. While it may be a decline from July’s 0.4% (July was revised up from 0.2% to 0.4%), the longer term trend is still a thing of beauty.
I have nothing bad to say about that chart. Looks good and it tells us that despite the bad earnings season, lack of meaningful job growth, and the drop in U.S. GDP, consumer spending and retail sales continue to march upward for now.