On Friday the 12th of February, the U.S. Census Bureau News released their latest data covering retail sales and consumer spending. Retail sales show a 0.5% increase M.o.M. with an increase of 4.7% Y.o.Y.
On the heels of the government report, Gallup released their Gallup Daily Consumer Spending Data:
- January 2009 - January 2010 change at a loss of -5.8% Y.o.Y.
- December 2009 - January 2010 change at a loss of -16.3% M.o.M.
Now, the question obviously arises - which one is correct? I tend to believe the Gallup data series over the government data, simply because of the amount of "adjustments" built into the governmental data series. Not to mention the "revisions" that the governmental data is subjected to, after the fact.
This sort of government manipulating, in so called "official" databases, has got to stop. Investments and precious resources are squandered and wasted when decisions are made based upon these false "facts", released by the very entity in which the public should have trust.
Disclosure: No positions.