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Thursday, September 1, 2011
What Recession?
If the US economy entered recession in August, nobody told the US consumer. Despite the lowest consumer confidence readings in years reported during the month, same store sales at national retailers looked positive and pretty strong. Data presented from retailsails.com:
Another encouraging data point was ISM, which was in expansion territory at 50.6. Retail sales are one of the first pieces of hard data (non-survey) that we have from the month though.
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