U.S. Consumers are Alive and Well

Monthly retail sales in November ($368.9 billion) hit an all-time record high in November (see graph above), and were 5.6% higher compared to November last year, and 1% higher than October of this year.

CNBC host of "Kudlow and Company" Larry Kudlow says: "Today’s remarkably strong retail report dealt a big body blow to the recession scenario. This unexpected 1% gain is a big number. It took most people by surprise. It’s another sign pointing to the resiliency of the U.S. consumer.

I’ve been saying for quite some time now that U.S. consumers are alive and well. Back in the middle of August, I wrote “The great American consumer has been written off so many times in the last couple of years, just like the rest of the economy. But he/she is alive and kicking. Another great story never told.”

The key themes are strong job creation, low unemployment, and rising wages."