Retail Sales Reports Give Me Gas

by Lee Adler

It just doesn’t get any more bullish than today’s retail sales report. Or so you would think if you only read the mainstream media reports. “More spending at online stores such as Amazon and electronics and applicance stores boosted retail sales by 0.5% in October, following a strong 1.1% surge in September,” shouted Marketwatch. “Retail sales rose more than projected in October as American shoppers gave the economy a boost at the start of the fourth quarter, “enthused Bloomberg. The Wall Street Journal was a little less effusive: “U.S. retail sales rose in October as Americans spent their dollars at electronics stores and on the Internet.”