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Core Retail Sales Growth Weakest Since February

Courtesy of ZeroHedge View original post here.

With YoY retail sales growth having slowed dramatically in the last two months (actually contracting MoM in Septmber), analysts were expecting a credit-card-fueled buying bounce in November but it was disappointing.

Confirming BofA’s credit-card data…

November retail sales rose just 0.2% MoM (much lower than the 0.5% rise expected)

Source: Bloomberg

Retail sales increased in 8 of the 13 sectors…

But in the core, ex-autos and gas, year-over-year retail sales growth is its weakest since Feb 2019…

Source: Bloomberg

The control group’s meager 0.1% rise – which feeds into GDP – is not what the doctor ordered…

Source: Bloomberg

…as it seems, despite soaring confidence, the US consumer is not exuberantly over-spending.

And it’s about to get worse…

 

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