by Pater Tenebrarum
Second Half Recovery Dented by “Resurgent Consumer”
We normally don’t comment in real time on individual economic data releases. Generally we believe it makes more sense to occasionally look at a bigger picture overview, once at least some of the inevitable revisions have been made. The update we posted last week (“US Economy, Something is Not Right”) is an example.
[…] We’ll make an exception today though. Our friend Michael Pollaro just sent us a chart update following today’s release of retail sales data. Apparently the data missed the consensus forecasts of economists by several light years. Michael prefaced the chart with “the consumer resurgence!”