No. 590: December Retail Sales, Updated Consumer Liquidity Indicators

(SGS Subscription required) • Statistically-Insignificant 0.2% Gain in December Retail Sales Likely Was Flat-to-Down Net of Inflation
• December Activity Was Below Initial November Reporting With Earlier Numbers Revised Lower
• Annual Sales Growth Continued Its Signal for “New” Recession
• Consumers Constrained by Severe Structural Liquidity Problems

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