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Some economists were in disbelief regarding the huge collapse in retail sales in December. Other indicators now confirm.
Here is a tweet on the subject.
That chart is weekly. Ideally, we need to see monthly and it wasn't posted.Last week everyone said retail sales numbers had to be wrong because Redbook survey hadn’t declined.
The Johnson Redbook Index is a proprietary indicator of growth in retail sales, and provides advanced estimates of trends in retail sales ahead of official releases and company reports in an easy-to-read four-page report. The weekly indicator is made public every Tuesday morning, with clients receiving notice via conference call, e-mail or fax prior to public release.
The Johnson Redbook Retail Sales Monthly is a comprehensive report of same-store sales data reported monthly by general merchandise and apparel retailers. Analysis is given on current month sales, year-on-year, quarterly and annual sales, historical sales data and company rankings. Retailers are tracked across categories: Apparel Specialty, Books, Toy