Numbers Game

“Shoppers are in retreat,” said financial TV host Stuart Varney on the drop in retail sales reported this month. They fell .2% and that marks the first time in ten months that has happened. Part of it was auto sales which were down 2.9% in May.
“This economy is going nowhere,” Varney continued. “The recovery is not as strong as it should be two years after the recession.”
Another factor to consider is the May PPI, the measure of inflation. It weighed in at .2%, higher than the .1% expected. That means prices on most everything are going up and explains the drop in retail sales.

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