SFY - U.S. Sales And Production Remain Virus-Free But Still Aren't Headwind-Free
The lull in US consumer spending on goods has reached a fifth month. The annual comparisons aren't good, yet they somewhat mask the more recent problems appearing in the figures. According to the Census Bureau, total retail sales in January rose 4.58% year-over-year (unadjusted). Not a good number, but better, seemingly, than early on in 2019 when the series was putting out 3s and 2s.
As has been the pattern in these things, global synchronized downturns, the middle part of last year sets up the annual numbers on the back end. Seasonally-adjusted, retail sales are