by Mike ‘Mish’ Shedlock
There was a lot of cheering last month when retail sales rose by 0.2%.
That cheering mostly vanished into thin air today when January retail sales were revised to -0.4% and February retail sales came in at an anemic -0.1%.
Curiously Bloomberg Econoday said today’s report showed “respectable strength in February.”
February retail sales were inline with the Bloomberg Econoday consensus of -0.1%, but the real story was January revisions.