July Retail Sales
Wall Street Journal -- U.S. retail sales fell 0.1% in July even with a boost from the government's cash-for-clunkers subsidy, the Commerce Department reported, marking the first decline in seasonally adjusted sales in three months.
MP: Actually, the seasonally-adjusted decline in retail sales was only -.055% (from $342.497 billion in June to $342.309 billion in July), so by rounding to only one decimal place the reported percentage decline (-0.10%) was almost twice the actual percentage decline (-0.055%).
Additionally, the Census Bureau reports shows a +1.11% increase in July retail sales without seasonal adjustment ($355.243 billion in July from $351.360 billion in June). And the BLS reported today that the Consumer Price Index (CPI-U) decreased 0.2% in July before seasonal adjustment. Therefore, real retail sales in July, adjusted for the 0.2% deflation in July, actually increased by 1.16% before seasonal adjustment.