Tags: Alhambra | Jeffrey Snider | Economic Recovery | Consumer Recession

Alhambra's Jeffrey Snider: The Recovery Itself Unravels Into Consumer Recession

By    |   Thursday, 14 May 2015 02:00 PM

If recent retails sales data are any true indication, American consumers are zipping up their wallets and pocketing all extra cash amid fear of their economic future.

“There can be no doubt that consumers in the US right at this moment are acting out of recessionary impulses,” wrote Alhambra Investment Partners’ Jeffrey P. Snider.

“If March was supposed to herald at least the beginning of the anticipated yearly rebound, April put that idea to rest,” he wrote.

“In terms of retail sales, one of the most important and largest segments of “demand,” April’s figures were mostly the worst of the recovery and some of the worst in the entire series – “beating” out February in every category,” he wrote.

“Even including autos, total retail sales gained just 0.72% in April more than suggesting there really is a major economic problem brewing,” he wrote.

“Among the other segments, the figures are getting truly dire (all numbers are year-over-year not-adjusted): retail & food sales ex autos -0.35%; retail trade incl. autos –0.26%; just retail ex food ex autos -1.80%; general merchandise stores -1.52%. While these numbers are severe on their own, this is a contractionary environment that now stretches at least four months and in some cases five. Recessions are not spontaneous events but rather the accumulation of negative pressures and results.”

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If recent retails sales data are any true indication, American consumers are zipping up their wallets and pocketing all extra cash amid fear of their economic future.
Alhambra, Jeffrey Snider, Economic Recovery, Consumer Recession
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2015-00-14
Thursday, 14 May 2015 02:00 PM
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