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PSCC - May Retail Sales Decline 10%+ Gain In Retail Sales Since Onset Of Pandemic Remains Intact
PowerShares S&P SmallCap Consumer Staples Ptf
At first glance, May’s retail sales report, like April’s, looks like a big miss, as sales declined -1.3% nominally, and after adjusting for inflation, declined -2.0%.
Retail sales are 18% higher than they were in February 2020.
Vaccine-driven economic recovery, subdued credit costs, and opportunities to reduce deposit cost will drive earnings this year.