The September retail sales show it’s a super-V recovery folks. According to Census Retail data released today [LINK HERE] – [PDF HERE] September retail sales jumped 1.9 percent, that result is triple what forecasters and economists had projected. However, the data is even better. Need more winnamins !
A September 2020 comparison to September 2019 shows last month’s retail sales jumped a whopping 5.4 percent year-over-year. That means last month saw consumer spending 5.4% higher than consumer spending before COVID-19 hit the U.S. economy. Keep in mind two-thirds of U.S. GDP is driven by retail sales and consumer spending.
Reuters is absolutely apoplectic with disappointment because their forecasters were only looking for 0.7 percent growth, and the 1.9 percent result is almost triple their expectations. Despite missing the forecast, Reuters doubles-down on a “dark cloud” narrative and sells a doomsayer message because the globalists/multinationals are sad…
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