One Strong Sign That Gas Prices Aren't Hurting The Economy Yet

gasoline

Photo: AP Images

For a good roundup of the latest economic data, you should check out this post at The Bonddad Blog, examining the full data from the past week.One good sign is that retail sales seem fine for now:

Sales remained positive. The ICSC reported that same store sales for the week ending February 25 were off -1.0% w/w, but increased 2.7% YoY. Shoppertrak reported +2.8% YoY gains. Johnson Redbook reported a 3.4% YoY gain. These reports have taken on added significance. If the consumer is beginning to fold, I would expect to see YoY comparisons under 2% as a warning signal. There’s no such signal yet.

We’ll keep watching this point.

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