Just as some good news finally came our way in June, increasing our hopes that the soft patch in the economy may finally be behind us, the government’s payrolls report on July 8 indicated that it isn’t over yet. Automatic Data Processing’s (ADP’s) June private payrolls survey had showed that employers had added a solid [...]
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Economic Update: U.S. Retail Sales
U.S. retail sales rose just 0.2% m/m in November, which was much weaker than the 0.6% expected by consensus though at least comes after October was upwardly revised to a 0.6% gain (previously up 0.5%). Auto sales were up 0.5% over October, and is up 7.5% over last year. Excluding auto sales, retail sales also [...]