Retail sales forecast near term improvement

Real retail sales is perhaps my favorite of all economic data points.  That’s because it is so useful forecasting a number of different consequences. And it just got a little more useful. Last week’s consumer inflation for October was reported up a hot +0.4%.  That means that October real retail sales which were up a nominal 0.8%, rose +0.4% in real terms:   The last two months have seen a real surge in consumer spending.  Since this is one of the important coincident indicators of the economy, it confirms in real time that we are not in a recession. Another thing that…

Source: XE news feed
Retail sales forecast near term improvement