Wednesday, December 13, 2006

Retail Sales "Surge"?

The AP has a story out this morning stating retail sales surge by 1%. Well, given this is the season most retailers generate 30-50% of their profits, I don't think they would classify this as a surge. Be that as it may, Best Buy reported major appliance sales were down significantly and the auto industry has already reported their sales are down, yet both of these numbers are up in the ESTIMATED data reported this morning. Is a downward revision in the cards? A couple of data points I track are pointing to a weak Christmas.
posted by TimingLogic at 10:03 AM