Add weak revisions to January's slow retail sales number


Gotta be the weather? In addition to January's soft retail sales print (-0.4% vs. consensus -0.1%, ex-autos flat vs. consensus +0.1%), December's 0.2% gain is revised to a loss of 0.1%, with Dec. ex-auto's 0.7% gain revised to just +0.3%.

Full report

A longer-term chart shows the Y/Y gain in sales just ticking below the range it's been in for the past couple of years.

The 10-year Treasury yield slips another couple of basis points, now off 6 on the day to 2.73%. TLT +0.6%, TBT -1.2%

Stock index futures slip a bit more, the S&P 500 (SPY) -0.7%.

Treasury ETFs: TBT, TLT, TMV, SHY, IEF, TBF, PST, EDV, TTT, TMF, ZROZ, SBND, TLH, IEI, DLBS, TYO, DTYS, VGLT, UST, BIL, SHV, UBT, TBX, VGIT, TLO, VGSH, SCHO, GSY, DTYL, SCHR, LBND, TYD, ITE, TENZ, TYBS, DTUL, DTUS, SST, TUZ, FIVZ, DFVL, TBZ, DLBL, DFVS, TYNS

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Comments (2)
  • CW2
    , contributor
    Comments (15) | Send Message
     
    Up 2.4% yoy Jan '13 to Jan '14. Let's look at the big picture.
    13 Feb 2014, 10:32 AM Reply Like
  • mobyss
    , contributor
    Comments (2402) | Send Message
     
    Down from December.

     

    The auto market rebound is over. US 2014 sales are predicted to come in at 15.2 million instead of the previous estimate of 16.4. A 7%+ decline. The manufacturers have been "channel stuffing" vehicles to dealers (that count as a sale), and now the big incentives are back to clear the inventory. The volume and "desperation" of dealership radio ads has increased substantially (news talk station).

     

    In a consumer spending downturn autos usually go first, then appliances, trips, clothing, electronics.
    13 Feb 2014, 11:41 AM Reply Like
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