Tuesday, June 23, 2009
more retail sales
[T]oday's horrendous Johnson Redbook Index numbers were curiously not noted anywhere.
These are not good numbers for green shoot theorists and likely mean the U.S. consumer is even weaker than many suspect. June retail sales are shaping up to be a real disaster.
UPDATE: it shows in the freight too -- there's no economic rebound here.
UPDATE: nor is there recovery in japan's may exports.