2012-07-16wallstreetexaminer.com

This year, real sales ex gas declined by 3.2% in June versus May. That was weaker than June of last year (-0.9%) and June 2010 (-1.8%), and below the 2002-2011 average decline for June of -2.8%.

Does this represent a material weakening, or is there some other explanation? My guess is that it is non material, as portions of the US experienced record heat in June.

...

In the big picture, this recovery is poor. Unlike nominal retail sales, retail sales ex gas remain below 2003 to 2007 levels. This difference is even more striking considering that US population has grown by 10% over that time. That means that real retail sales per capita have been falling for 9 years, a fact which no one in the Wall Street mob ever mentions.



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