U.S. retail sales miss expectations in October

Automatic TRANSCRIPT

Sales growth slows. Below expectations. That was the headline Okay? It's 5.7% over 2019 October. That means retail sales. Nearly 6% above October. 2019. Yeah, I would call that recovery. Yeah, and Bloomberg does the same thing right? Right. It's just and so media makes a lot of money going is gonna be bad is really bad. Everything's bad. And if it was good, which retail sales have been? They've been fabulous. Then they say, Oh, it wasn't it. You know, it's just slowing. Well. Heck, it's 6% above last year. What more do you want? I mean, that's okay. There wasn't a pandemic in October last year on and we beat it by five points up now, just to give you the real story also got industrial production right here. Okay, That's it, But it was it say industrial output rebounds strongly in October. Okay, so that was good. It was up 1.1%, but I but I look at how does it compare with last year? Production is still 5.6% below pre pandemic levels, right, So it did have it. It was it was gaining back. But retail sales is almost six over and industrial production industrial output is still about six under that would be more commensurate with what we reported last week on jobs. You know where we were 159 Million employed 133 million at the low 26 million tragically lost 26 million jobs tragically lost. And then we rebounded. Ah 250 million current employed. That's the real number on employment, and it also reflects industrial production down about 6%. That's AH, that's that's in line with that figure. See. Here it is. U S retail sales climbed at a slower pace in October, Okay? Yeah,

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