Retail sales jumped an unexpected 1.4% last month after falling a revised 2.4% in September. Inquiring minds ask: How can that be? Market Ticker has the answer:
If you were wondering how we can possibly have “improving” retail sales data when sales tax information from the states refuses to reflect this alleged “improvement” in retail sales, along with how states can post double-digit sales tax declines while “retail sales” are down by a much smaller percentage, you now understand. The Census Bureau intentionally lies by omitting the “zero” for a store in the month it closes – that loss of sales is never reported – not even retrospectively in a revision the next month.