A Tale of Two Data Points

When it comes to retail, these are the best of times and the worst of times.  Retail sales last month grew at a 5.8% annual rate — the best since March 2012.But, revolving credit (which recently hit new, all-time highs) has been growing at an annual rate of over 10%.  And, delinquencies are on the rise.

From a retailer’s standpoint, unless you’re Amazon (33% YoY revenue growth in Q3) you’re not loving the data at all.

And, not even Amazon can be too excited about the lethargic pace of real income “growth.”

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