Inventories Rise as Retail Sales Sag - WSJ
It's true that a sequential M/M increase would be preferable and that sales remain well below the 2008 peak -- from the WSJ article:
- The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $360.2 billion, a decrease of 0.5 percent (±0.5%)* from the previous month, but 4.8 percent (±0.7%) above June 2009. Total sales for the April through June 2010 period were up 6.8 percent (±0.3%) from the same period a year ago. The April to May 2010 percent change was revised from -1.2 percent (±0.5%) to -1.1 percent (±0.2%).
- Retail trade sales were down 0.6 percent (±0.5%) from May 2010, but 5.0 percent (±0.7%) above last year. Nonstore retailers sales were up 12.1 percent (±2.1%) from June 2009 and gasoline stations sales were up 8.8 percent (±1.8%) from last year.
Finally, if still not convinced, we recommend reading the following 6/18 post from Jeff Matthews Is Not Making This Up, a blog we frequent:
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