On February 14, I noted US Retail Sales Dive, Negative Revisions Too. This will impact both 4th quarter and first quarter GDP estimates.

On February 22, Bloomberg reported Canadian Retail Sales Drop Unexpectedly.

"Receipts fell 0.8 percent to C$49.6 billion in the last month of 2017, Statistics Canada reported Thursday. It was the biggest monthly decline since March 2016. Economists were expecting no change during the month."

On February 16, the Financial Times reported UK retail sales figures disappoint. The results were positive but barely.

"The volume of retail sales grew by 0.1 per cent month-on-month, far below analysts’ expectations of 0.5 per cent growth in January, according to a poll from Thomson Reuters. On the year, sales were up by 1.6 per cent, from 1.4 per cent, far below expectations for a 2.6 per cent rise."

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On January 31, Reuters reported German Retail Sales Unexpectedly Fall in December.

On February 6, Business Insider reported Australian retail spending for the Christmas was far weaker than many were expecting.

Given the Fed's outlook and increasing expectations of four rate hikes plus tapering in the US, tapering in the EU, and rate hikes in the UK, such reports must be meaningless.

Also note the IMF made a "Brighter Forecast" for the global economy in January. When has the IMF ever been wrong?

Mike "Mish" Shedlock

Retail Sales Flop in February but January Revised Higher

Sales rebounded in January from a dismal December then Flopped again in February.

Australia's Housing Bust Impacts Retail Sales, Recession Coming Up

Australia's housing bust now impacting retail sales. Except for food, retail spending has been negative for 3 months.

Retail Sales Unexpectedly Decline: Average Growth Rate for 6 Months is 0%

Economists missed the mark on retail sales numbers. The second-quarter GDP outlook is off to a bad start.

UK Retail Sales Plunge Most Since March of 2009

Additional cracks are starting to appear in the global economy. In the UK, retail sales plunged the most in eight years. Consumers are also becoming worried about falling house prices. I propose consumers should have been worried that home prices would tank long ago.

Brink of a Global Recession: UK and Germany in Contraction

The UK economy shrank by 0.2% between April and June. It won't stop there. Germany is also in contraction.

Confidence? Retail Sales Down Third Month

Citing "consumer confidence", economists expected retail sales to bounce 0.4%. Instead, sales fell for the 3rd month.

Canada Recession Signals: Retail Sales Unexpectedly Dip; Loonie Sinks; Bank of Canada Ponders Easing

Despite having a massive property bubble, the Bank of Canada discussed cutting rates on Wednesday to stimulate the economy.

Retail Sales Unexpectedly Sink 2nd Month: Supposedly Car Sales Rise 3rd Month

The consumer has all but thrown in the towel as retail sales unexpectedly declined for the second month.

Retail Sales Bounce, Led by Autos

Following three monthly declines, retail sales rose 0.6 percent in March.