The re-opening of government has allowed some data to begin to be released.

We are finally starting to get some important data that had been delayed with the partial government shutdown. Retail sales for December are expected to be released this week for December. This is a month later than it was due. Expectations are for only a 0.1% increase but this is a misleading number. Retail sales are not adjusted for price changes. The drop in gasoline prices in December drives down the growth in reported retail sales since consumers spend less to fill their tank when prices drop. The more relevant number is non-gas and auto sales.

 

PROBANK AUSTIN ADVISOR - FEBRUARY 11, 2019