Here is a pair of Tweets on the subject.

That chart is weekly. Ideally, we need to see monthly and it wasn't posted.

Redbook

The Johnson Redbook Index is a proprietary indicator of growth in retail sales, and provides advanced estimates of trends in retail sales ahead of official releases and company reports in an easy-to-read four-page report. The weekly indicator is made public every Tuesday morning, with clients receiving notice via conference call, e-mail or fax prior to public release.

The Johnson Redbook Retail Sales Monthly is a comprehensive report of same-store sales data reported monthly by general merchandise and apparel retailers. Analysis is given on current month sales, year-on-year, quarterly and annual sales, historical sales data and company rankings. Retailers are tracked across categories: Apparel Specialty, Books, Toy & Hobby, Department, Discount, Footwear, Furniture, Drug, Home Improvement, Home Furnishings, Electronic, Jewelry, Sporting Goods, and Miscellaneous. The Johnson Redbook Same-store Sales Index (SSI), an index of year-on-year same-store sales growth is reported in each edition.

Shockingly Weak Retail Sales

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Redbook ties in with my report Shockingly Weak Retail Sales: Down 1.2% in December, Sharpest Decline Since 2009

And its not just retail sales either.

Other Confirming Indicators

  1. Autos: Surge in Auto Loan Delinquencies: Auto Loans in High Gear
  2. Credit Card Stress: Household Debt Up 18 Consecutive Quarters to a New Record, Card Stress Rising
  3. Falling Imports: Trade Deficit Shrinks in November Primarily Due to Falling Imports
  4. Industrial Production: Industrial Production Dives, Wiping Out a Strong December and Then Some

Very Recessionary

Add it all up and it looks very recessionary. And the EU is already there. Eurozone Recession: Right Here, Right Now!

There is no reason to believe the US will be immune to a global slowdown. People thought that China would decouple in 2008. It didn't. The US won't either.

Mike "Mish" Shedlock

Shockingly Weak Retail Sales: Down 1.2% in December, Sharpest Decline Since 2009

Holiday retail spending came in shockingly bad. Retail sales fell 1.2 percent vs economists expectations of a rise.

Retail Sales Disappoint Again: Department Stores Clobbered in 2017

Economists were looking for a big rebound in retail sales in April from a dismal showing in March.

European PMI Retail Sales Collapse: Near-Record Drop in Italy Retail Sales

Inquiring minds are noting the expected (at least in this corner) collapse in European retail sales as measured by PMI indices in Italy, France, and Germany, the three largest Eurozone economies.

Retail Sales Mostly Solid But Department Stores Hit Again

Retail sales rose 0.3 percent in Dec, essentially in line with expectations after taking revisions into consideration.

Retail Department Store Carnage: Amazon to Blame? Mish 12-Point Summation

Retail department store sales are in a funk. Macys, Nordstrom, Dillards, Kohls, and Ralph Lauren have all reported dismal sales or profits.

Inventories Soar in December

Wholesale inventories rose 1.1 percent in December. Retail inventories rose 0.9%.

Retail Apocalypse? Deflationary Collapse?

Through the third quarter, 6,752 locations were scheduled to shutter in the US according to the International Council of Shopping Centers. That's more than double the 2016 total and is close to surpassing the all-time high of 6,900 in 2008, during the depths of the financial crisis.

Confidence? Retail Sales Down Third Month

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

Consumers in Gear: Retail Sales Jump Far More Than Expected

Retail sales rose 0.8% in November topping consensus estimate of a 0.3% rise. There's some talk of economic"overheating"