Mixed Data in Weekly Redbook Retail Sales
The Redbook Retail Sales data, part of the Johnson Redbook Index, is showing some mixed results for the retail sector. Today's report showed that U.S. retail sales were down by 1.7% so far in October when compared to September. However, if you go back by one year, the first three weeks of October sales were up by 1.6% in 2012 versus 2011. While this is a retail indicator and while consumer spending is a huge portion of gross domestic product, these weekly retail readings rarely move the market.
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