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Retail Sales Miss Across The Board - 2nd Weakest Year-Over-Year Gain Since Financial Crisis

Amid the carnage in Macy's, Nordstrom, and JCPenney, one could be forgiven for expecting a weak retail sales print and sure enough... Following a 0.1% dip in September, 'control group' retail sales rose just 0.2% (half the expected 0.4% rise). Furthermore, having fallen 0.3% MoM last month, retail sales ex-autos rose just 0.2% (again missing the expected 0.4% gain).

 

 

October saw retail sales declines in Motor sales, Electronics, Food and Beverage, Gasoline Sales, and General Merchandise.

 

Most notable is the drop in year-over-year gains (and downward revisions) to a rise of just 1.7% - the 2nd weakest since the financial crisis.

 

Charts: Bloomberg