SEASONAL ADJUSTMENTS. WHEN UP IS DOWN AND DOWN IS UP. The intriguing case of January U.S. retail sales and its effect on the markets.

I have corrected a mistake in the original. Nominal (unadjusted) retail sales fell by 20% not 25% between December and January.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: