We might have been off not getting any more data than what was released last week.

Government agencies which were shut down are now trying to play catch-up with economic data releases. The Commerce Department was one such agency. They released retail sales for December last week, which was one month later than normal. If you believe the data, consumers slowed spending in the last two months of 2018. Retail sales were reported as having declined 1.2% in December and November’s data was revised downward. If that was the case, fourth quarter Real GDP , which has not yet been released, will be much lower than consensus forecasts.

 

PROBANK AUSTIN ADVISOR - FEBRUARY 18, 2019