Chain-store sales continue to hang in there

Chain-store retail sales appear to be hanging in there nicely, possibly due to the lingering effects of the fiscal stimulus. Reuters reports that the Johnson Redbook Reail Sales Index is up +1.1% so far in July over last month, up +2.6% for last week over a year ago, and up +2.7% for this month over a year ago.

We certainly are not out of the woods yet, especially since the effects of the fiscal stimulus could linger for another month or two, but at least the economy is not falling off a cliff as many people are falsely claiming.

-- Jack Krupansky