The Redbook Retail Sales data, part of the Johnson Redbook Index, is showing some mixed results for the retail sector. Today’s report showed that U.S. retail sales were down by 1.7% so far in October when compared to September. However, if you go back by one year, the first three weeks of October sales were up by 1.6% in 2012 versus 2011. While this is a retail indicator and while consumer spending is a huge portion of gross domestic product, these weekly retail readings rarely move the market.
Mixed Data in Weekly Redbook Retail Sales
By
Jon C. Ogg
Published
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About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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