US Retail Sales Drop Most Since June 2012 (And Don’t Blame Gas Prices)

US Retail Sales Drop Most Since June 2012 (And Don’t Blame Gas Prices) (ZeroHedge, Jan 14, 2015):

But but but… US retail advanced sales dropped a stunning 0.9% MoM (massively missing expectations of a 0.1% drop). The last time we saw a bigger monthly drop was June 2012. Want to blame lower gas prices – think again… Retail Sales ex Autos and Gas also fell 0.3% (missing an exuberantly hopeful expectation of +0.5% MoM) and the all-important ‘Control Group’ saw sales fall 0.4% (missing expectations of a 0.4% surge). Boom goes the narrative.

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