He is right. When we revise the prior month up, we then have to include that upward revision in the current month as all the “estimates” did not. The numbers are still going in the right direction…..and as was also pointed out to me by @Dukestjournal, Oct. also feature the latest iPhone launch so this makes the Dec increase even better
“Davidson” submits:
The Retail Sales figures were released today showing a 0.1% rise from Nov 2011 which itself was revised higher so that sales are 0.5% higher than Oct 2011. Yet, the media has found a means of being pessimistic on this report. Look at the trend in the chart below of Retail Sales vs. Household Survey Emp.
Do you see a reason to be pessimistic in these trends? I see no reason to be anything but optimistic!
The excessive market pessimism is beginning to turn in my opinion and is resulting in positive gains in financial issues. I think this is the result of the trends in Retail Sales and employment since Jan 2009 beginning to convert naysayers to a more positive view coupled with the very low returns currently available in Treasuries.
Optimism continues to be warranted for equities in my opinion.
