Retail Sales rose 0.3% in October less than the consensus 0.4%. Revisions took September down from 1.9% to 1.6%.
Advance Retail Sales
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The above table from Econoday.
Month-to-month percentages are totally distorted by Covid. Charts show the trends better.
Advance Retail Sales for 2020
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Motor vehicles and parts recovered. Nonstore retailers accelerated, Food and drinking places, gas stations, and departments stores are weak.
General merchandise stores like Walmart regained the previous trend but no more.
As restaurants opened up food and beverage stores slipped but remain above the pre-Covid levels.
This was the expected behavior.
What's Next?
Due to huge outbreaks of Covid, Food and Drinking Places will take another hit.
More layoffs in the hospitality sector are coming.
Congress is still bickering over a Covid package so a lot more pain is in store for those who don't have a job or are about to lose one.
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