Silly Retail Sales Data
I know I have been confused about the rosy reports on retail, especially when I know the tax revenues have been way down.
Mish has a done a great job explaining the terrible methodology used in the reporting that US Census uses.
The main problem is that they do not make adjustments for stores that go out of business or retailers close some stores. So, stores close, business moves to the stores that are still open and it doesn't look so bad.
Checking the sales tax data is the only way to make sure.