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"Real" U.S. Retail Sales Remain Stagnant


{US} "Real" retail sales growth -0.3% using a quick-and-dirty method of subtracting June's M/M CPI (+1.3%), 3rd negative reading out of four.

  • While acknowledging the limitations of that approach, the level of "real" retail sales has basically been stagnant for the past year, with the CPI price level matching the rise in the nominal retail sales level.

Source: BLS, Census Bureau, MNI Calculations

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