CHART OF THE DAY: Retail Sales Growth Is Freefalling, And Goldman Has Slashed Its Q2 GDP Number

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June retail sales came out this morning, and contrary to expectations of a 0.2% rise, they actually fell 0.5%.

This caused Goldman to cut its Q2 GDP tracking estimate from 1.3% to 1.1%.

This chart shows year over year growth in retail sales, and as you can see… it’s divebombing.

chart of the day, june retail sales, july 2012

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