US Retail Sales Tumble Most Since February As Web Revenues Crash

While the consensus believed today’s US retail sales for December would come in with a modest 0.1% MoM drop to end 2021, BofA – which has been consistently spot on for months – forecast a much more substantial 1.3% tumble. In reality, things were even worse as Dec retail sales plunged 1.9% MoM (and November was revised weaker)…

Source: Bloomberg

That is the biggest MoM drop since Feb 2021.

Ex Autos and Gas, retail sales plunged an even more worrisome 2.5% MoM and worse still, the COntrol Group – which feeds GDP – crashed 3.1% MoM – massively worse than the unchanged that was expected.

Non-store retailer sales collapsed in December…