Retail Sales Doing it Bryan McKnight Style: Back to One

This morning’s retail sales number continues to show how resilient the US consumer is. Here’s a graph of the year over year change in retail sales.

As you can see, we are back to trend in July. Thus, after just 2 months – April of May – of depressed sales, we are back where we started.

This is going to lead to inflation in a lot of industries as the supply chain is broken still. I’ll get back to that next week.