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US Retail Sales Slump In July As Stimmy Spending Stalls

zerohedge2021-08-17

Following June's very modest rise in retail sales, analysts are expecting a stimmy-less American public -whose buying attitudes have utterly collapsed along with sentiment- to spend less in July (-0.3% MoM consensus).

source: Bloomberg

Specifically,BofA, which has nailed the numbers all year, is forecasting a dramatic drop in retail sales in Julyas the spikes from stimulus checks fades into the distance (and the hopes of imminent recovery are dashed by government fearmongering and actions over the Delta variant).

So just how bad was it? US Retail Sales fell 1.1% MoM in July - almost four times worse than the 0.3% slide expected

Source: Bloomberg

Under the hood, motor vehicles, clothing, and non-store retailers (online) all saw sales tank...

This is not the self-sustaining recovery you were looking for...

Source: Bloomberg

Finally, most concerning is the 1.0% tumble in the control group data, which slots right into GDP. That is five times worse than the 0.2% decline expected!

Source: Bloomberg

Get back to work Mr.Biden... Americans need their stimmies!!

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Comment7

  • SilverAmour
    ·2021-08-17
    Need to teach/enable them how to fish, not spoon feed them fish? ?
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  • fatpistachio
    ·2021-08-17
    How many iphones can u keep buying????
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  • forces
    ·2021-08-17
    Drop more
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    • PeiYi99
      Yeah
      2021-08-17
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    • Delvin
      No
      2021-08-17
      Reply
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    • ZStarWyvernZ
      cool
      2021-08-17
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  • PanaCota
    ·2021-08-17
    Hi
    Reply
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  • BBBBBBBBBB
    ·2021-08-17
    Hi
    Reply
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    • LW100
      Comment
      2021-08-17
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  • markkk
    ·2021-08-17
    no
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  • KYHBKO
    ·2021-08-17
    not sure if constant stimulus is the only way to save the economy ... 
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    • markkk
      dk bro
      2021-08-17
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