A Huge Sign That The Economy Has Avoided Disaster

ship shipwreck crash

Photo: Wollex

Over at The Bonddad Blog, the pseudonymous New Deal Democrat is out with the latest look at the weekly high-frequency data.This part really stands out:

The ICSC reported that same store sales for the week ending March 17 rose +0.9% w/w, and also rose only +3.3% YoY. Johnson Redbook reported a 3.6% YoY gain. This week was the best week in over a month. The 14 day average of Gallup daily consumer spending rose to its highest springtime level in 4 years, after having been briefly negative YoY at the beginning of this month. Shoppertrak’s data for the beginning of the month was also belatedly reported as off -3.4% YoY.

It’s hard to identify any evidence that gasoline prices have become a big problem, or really any problem. When multiple surveys show retail sales are at their highest levels in a while in the face of all this, this is a very good sign.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.