Viewed in isolation, the February Retail Sales report was terrible. With headline sales falling 3% on a month/month basis, it was the fifth-worst headline print in the history of the report going back to 1992. The only months that were worse were two in 2008 and two in 2020. Aren’t we supposed to be on our way out of the crisis?
In our just-released B.I.G. Tips report, we broke out the details of the February report including its bright and dark spots. For anyone with more than a passing interest in how the COVID outbreak is impacting the economy, our monthly update on retail sales is a must-read. To see the report, sign up for a monthly Bespoke Premium membership now!