What Happened To Retail Sales?

Retail sales and July payrolls hit unexpected lows as consumer confidence and gasoline usage slumped.

Source: DepositPhotos

Blaming Amazon's Prime Day, everyone is trying to work around yet another "unexpected" negative number. Following an "unexpected" drop in July payrolls, the Census Bureau now reports an "unexpected" drop in retail sales alongside an "unexpected" setback in consumer confidence and, yes, an "unexpected" decline in gasoline usage during peak driving season. None of this is unexpected, just the work of more mini-cycles.
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