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US Retail Sales Disappoint In April As Stimmy Surge Stalls
After hot-hot-hot inflationary prints this week, following dismal jobs data last week, all eyes are on this morning's retail sales data to discern if America's future is a stagflationary cornering of The Fed. While no one expected a repeat of March's explosive gains, analysts still expected a modest rise (while BofA - who have been consistently correct - warned that a big disappointment was possible with retail sales actually falling MoM). It turns out, BofA was right as retail sales disappointed in April, printing unchanged from March (versus +1.0% expected) after an upwardly revised +10.7% MoM stimmy surge in ... (full story)
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Sales at U.S. retailers come to a halt in April as stimulus boosts fades
Sales at U.S. retailers fell flat in April after a blockbuster gain in the prior month when the government sent out $1,400 stimulus checks to most Americans — the third report in the past week that suggests the economy is hitting fresh headwinds. Retail sales were unchanged last month, the government said Friday. Economists polled by Dow Jones and The Wall Street Journal had forecast a 0.8% increase. Sales had soared more than 10% in March after the government sent out a third stimulus check — this time in the amount of $1,400 — to most Americans. While a slowdown in retail spending was expected in April, few ... (full story)
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