Here’s one for the bears….
December retail sales came in on the soft side this morning as the all important Christmas numbers failed to meet analysts’ expectations.
In all, 52% of the big retailers fell short as they posted only a 3.2% increase overall vs expectations of a 3.5% rise. November,as it turns out, was stronger than December.
Despite the miss, that is actually an improvement over the last two years when same store sales fell 2.5% in December 2009 and dropped 0.7% in December 2008.
Of course, this is one the bulls are more than happy to blame on the snow. It’s the rationalization du jour.
However, these three charts from a slice of Americana would seem to point to something else.
Just another sign that the bulls may be getting ahead of themselves.
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