In what is surely a shocking turn for the Mainstream Media, Tuesday's horrendous Johnson Redbook Index numbers were curiously not noted anywhere. As Zero Hedge believes in not depriving its audience of data points, especially those lacking a green steroid shot, the charts below indicate just much of a lack to the US budget deficit, upcoming consumer subsidies will be for President Obama (and taxpayers).
By way of background:
The Johnson Redbook Index is a sales-weighted year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9,000 stores. Same-store sales are sales in stores continuously open for 12 months or longer. By dollar value, the index represents over 80% of the equivalent 'official' retail sales series collected and published by the US Department of Commerce. Redbook compiles the index by collecting and interpreting performance estimates from retailers. The index and its sub-groups are sales-weighted aggregates of these estimates. Weeks are retail weeks (Sunday to Saturday), and equally weighted within the month. Months are retail fiscal months on the National Retail Federation's 4-5-4 calendar, and may start and end on different days than equivalent calendar months. As of June 2009 Wal Mart will no longer be included in the retail sample for this index.