Posted on 10/17/2019 7:35:26 PM PDT by aimhigh
Like a centrally directed disinformation campaign. Heres what happened.
And it was everywhere. Misleading headlines about retail sales, from which reporters then extrapolated silly conclusions about the consumer while clamoring for a rate cut from the Fed.
[Media reported] U.S. retail sales unexpectedly posted the first decline in seven months, suggesting consumers are starting to become shaky as the main pillar of economic growth and potentially bolstering the case for a third straight Federal Reserve interest-rate cut.
The Commerce Department released its Advance Estimates of U.S. Retail and Food Services this morning. This is the first estimate for the month that will get revised often substantially in following months as more data become available. And the report said that in September compared to September last year:
>Total retail & food services (restaurants, cafes, etc.) rose 4.1%.
>Retail sales without food services rose 4.0%.
>Food services sales rose 4.9%.
>Retail sales without gasoline sales rose 4.7%.
>Retail sales without gasoline, motor vehicles & parts sales rose 4.5%.
>Sales at non-store retailers (ecommerce, vending machines, door-to-door, telemarketing, home parties such as Tupperware, etc.) rose 12.9%
(Excerpt) Read more at wolfstreet.com ...
The same "media" that two weeks later barely muttered the numbers were cooked and we were actually in a recession?
Yeah! Right! We're ready to "believe" you!
That is a great site, which distills market explanations in short order...
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