Just landed in Chicago.
Nice to be back in the Windy City, it’s been awhile. Now what time does that big Twist and Shout parade start, the one with all the choreography and chicks in leiderhosen and Sarah Jessica Parker’s husband and stuff?
Retail Sales came in super strong. Not much to pick apart although there are some grumblings about how “promotional” the stores had to be in order to reach those top line numbers.
WASHINGTON, Dec 14 (Reuters) - U.S. retail sales were stronger than expected in November as consumers shopped despite high unemployment and producer prices rose, evidence the economic recovery gathered steam in the fourth quarter.The Commerce Department said on Tuesday total retail sales increased 0.8 percent, advancing for a fifth straight month, as consumers snapped up clothing and other items at the start of the holiday season and receipts at gasoline stations surged.In addition, sales for October were revised up to 1.7 percent from a 1.2 percent gain. The sturdy rise in sales was a boost for consumer spending, which accounts for more than two-thirds of U.S. economic activity.
There was also a Producer Price Index report that ran the hottest in 8 months. A lot of it was gas and food prices, of course. I predict much carping about inflation after this one.
More later, sorry for the late start this morning!